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Politics : Dutch Central Bank Sale Announcement Imminent?
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To: sea_urchin who wrote (20911)5/9/2004 12:41:52 PM
From: philv   of 81280
 
Here is an article regarding China which is well worth the read. I was astounded by this, and it goes a long way to explain why China is such a low cost environment. Here is an excerpt.

"On the construction site where Huang works, labourers have no contracts or monthly wages. They are promised money at the end of the year, before which they have to borrow from their bosses for lodging in a disused factory where 20 are crammed into each small, fetid room, sharing wood-slatted beds and lining up with cups and bowls for rice, soup and sometimes meat, for which they pay the bosses 33p a day."

Obviously, China is communist in name only. I don't know what word to describe this type of government which has taken the capitalistic model at all costs and at the expense of its own people.

When China moves to correct this, it will obviously be inflatiionary, and China will then export inflation, rather than deflation as has been the case for all these years.

Full article: Mao's promised land ends in sweated labour

observer.guardian.co.uk
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