Posted on 12/31/2008 6:29:30 PM PST by TigerLikesRooster
Chinese demand a wobbly bulwark
By Robert M Cutler
MONTREAL - China's economy requires a minimum annual growth rate of 8% to maintain production levels sufficient to prevent unemployment from increasing, according to a general consensus inside and outside the country.
Until recently, collective wisdom held that such a level of growth was likely to be maintained through 2009, easing the threat of social unrest as migrants, newly qualified university students and less-skilled school-leavers struggle to find work, while cushioning
the global impact of declining demand for industrial metals and related natural-resource commodities.
No longer. China increasingly appears no more immune than any other country from the effects of the "trilateral recession" the International Monetary Fund forecasts for Japan, the US and the European Union, the first time all three will experience negative economic growth simultaneously in the post-World War II era began.
China's gross domestic product (GDP) grew 9% in the third quarter over the same period last year. That was lower than expected and the fifth consecutive quarter in which growth fell compared with the preceding quarter. Growth in the last three months of 2008 approach 8%, with estimates for 2009 dropping towards 6%, with some analysts suggesting rates under 4%.
(Excerpt) Read more at atimes.com ...
Ping!
Sounds like a ripe environment for union organizing!
btt
Doesn’t China (like Russia) forbid unions?
China actually does have labor unions. But they, too, are headed by loyal members of the Communist Party, so the actual purpose of the unions is to promote the “workers” according to the Marxist definition.
Or was that the purpose of American labor unions? Oh, well. . .
China actually has other political parties than the Chinese Communist Party, too. The “GuoMinDang” (KMT), the Nationalist Party (re. ChiangKaiShek — JiangJieShi in Mandarin), actually operates on the Chinese Mainland as well as in Taiwan. It is allowed to operate as long as it is “subject to” the Communist Party.
Or was that the Republican Party is allowed to operate as long as it’s actions mirror the Democratic Party. So hard to keep these things straight anymore.
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