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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: mishedlo who wrote (65644)	7/9/2006 2:06:09 PM
From: RealMuLan	Read Replies (3) of 110194

Mish, you make it sound the US companies have created many jobs in China. I doubt that is the case. As a matter of fact, the higher productivity brought by the US and other developed countries into China has done nothing but eliminated millions of decent paying jobs in China! Unless, of course, you were talking about those slave-like jobs created by the US companies/by the US demand, those who have to work 12-14 hours a day (many assembly lines, including iPod's, only have 2 shifts a day -- means workers have to work at least 12 hours a day!), but only paid for 8 hours. And in many cases, their pay is back logged for months, if not for years, because many importers in the US delaying the payment or sometimes simply NOT paying at all! The delayed/default payment for Chinese exporting companies is now increasing leaps and bounds! It is estimated at >$100 billion a year. I, for one, sincerely wish the US companies could take back those jobs. That will do most of poor Chinese a big favor.

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