China's unwelcome growth: joblessness (China)

straits times ^

[maui_hawaii]

BUMP

[Pikamax]

"The multitude of people out of work or in meagre part-time jobs is soaring upwards of 300 million"

okay now thats a jobless number to be shocked at...

[Captainpaintball]

Hey, Wennie-baby! Don't worry! Soon, you'll have all our manufacturing jobs...If you work hard enough, you'll have all our agriculture jobs too! And if that STILL doesn't solve things, send 'em over here!!! (Oh, wait, they're doing that already. Never mind...)

[maui_hawaii]

Considering everything that has been posted on FR as of late, this is the flip side. If we are really talking about a Presidential action, this article points out the consequences.

Its probably one reason why a whole lot of nothing is going to change. Whatever the take on that, good or bad, thats the way it is.

[maui_hawaii]

okay now thats a jobless number to be shocked at...

Oh yeah, I forgot to mention...remember all those articles from a few years back about the invincibility of China? How great their economy is, etc etc?

Just reminding you to take that with a grain of salt. Its not all good. Just propaganda.

[appeal2]

Wait, I thought it was good to be the king.

[John H K]

Oh yeah, I forgot to mention...remember all those articles from a few years back about the invincibility of China? How great their economy is, etc etc?

Remember all those articles in the early 80s about the invincibility of Japan? Had there been a FR then the number of them posted would exceed the number of "China is invincible and is taking all our jobs" articles posted on FR by a factor of ten.

[Tauzero]

Highly interesting. Disemployment is nearly a worldwide phenomenon.

So how can manufacturing moving to China produce unemployment both here and there?

Easy: the manufacturing facilities, the capital assets, being set up in China are much more efficient than what had previously existed there.

This destablizes both countries.

To what end? "Workers of the world unite"?

[razorbak]

The economic downside of slave-labor camps you Chi-Comm scum.

[BJungNan]

Except for the extra millions of people in each of the statistics it sounds an awful lot like what is happening here in the U.S.

[xJones]

Except for the extra millions of people in each of the statistics it sounds an awful lot like what is happening here in the U.S.

Yes, low-paying jobs (by U.S. costs of living) are becoming the norm here as we export our formerly middle-class income jobs to China promoting their slave wage earning class....it's the New World Order

[FreepForever]

Just heard on the radio (in China). In ShenYang, LiaoNing Province alone, there will be 2 million more laid off workers (the highest number in all provinces) this year.
The provincial government said: "this is the price we have to pay for better cost-efficiency..."

[maui_hawaii]

Easy: the manufacturing facilities, the capital assets, being set up in China are much more efficient than what had previously existed there.

Not exactly. Manufacturing in China is actually much more inefficient than in the US. What it takes 5 of us to do it takes 20 of them. Plus the vast majority of their technology is 40 years old. The US is way more efficient, but they still put factories in inefficient China.

The analysis that calls for this has nothing to do with production efficiency, but rather dollar efficiency. Even though they have people often working in a delapidated old factory with way too many people eating from the Iron Rice Bowl, they still get the contract. Why? Because of the currency peg and similar things.

The real reason for this is the dysfunctionality of China's internal economy. They produce like hell, but don't buy worth a *****. The market is in the US but the production is in China. By fundamentals, that is not going to work all that well. The philosophy to rush to the bottom of the global labor pool is going to fail miserably.

Pretty soon China is going to have to move out of the house, preverbially speaking, and quit relying on mom and dad for their substinance. As it is now they are 35 and living in mom and dad's basement.

[maui_hawaii]

Are you calling me a Chi-comm scum?

[maui_hawaii]

Exactly. See post 15.

Right now we have a very disjointed economic policy. It stems from those who say "trade deficits don't matter". We should be buying as much as we can from people who buy from us. Trade is not all bad.

Just being cheap is not economically the best thing to look at.

[maui_hawaii]

bump

[maui_hawaii]

China needs to re-tune its economy away from an export model. Thats one of the only ways people can make money in China these days though. They have a long road ahead of them.

[GraniteStateConservative]

Henry Clay: "If the governing consideration were cheapness, if national independence were to weigh nothing; if honor nothing; why not subsidize foreign powers to defend us; why not hire Swiss or Hessian armies to protect us? Why not get our arms of all kinds, as we do, in part, the blankets and clothing of our soldiers, from abroad?"