Hi Maurice, On ACF Mike's Message 19428243 <<China's job losses in manufacturing have been double the level of losses in other developed countries>>, it is utter absolute nonsensical truth, adjusted for facts.
China manufacturing had always and is still over-staffed with redundant, efficient, or otherwise socialised employment in the state-owned enterprises. These were not employment in the traditional sense, but welfare in the American meaning.
So, the headline facts on industrial employment in China are meaningless at best, misleading at worst.
The truth is China has been doing the heavy lifting in structural reforms, and focusing on industrialization, and resolving issues with urbanization, becoming the factory to the world.
The headline fact that 'industrial employment is decreasing' merely indicate that manufacturing deflation has a long way to go, and thus FED reflation has same way to go, else deflation of asset prices win, and if FED continues on course, deflation of asset prices will start at a higher and thus more deadly level.
Chugs, Jay |
