Beijing to raise minimum wage to stave wealth disparity, second raise in 6 months

Discussion in 'Asia' started by Cuyo, Dec 29, 2010.

  1. Cuyo
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    Cuyo Training a Guineapig army

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    “While China’s living standards have dramatically risen over the past 30 years, the gap between rich and poor has sharply widened,” Yu Yongding, an influential former adviser to China’s central bank, wrote in a newspaper article last week. “With the contrast between the opulent lifestyles of the rich and the slow improvement of basic living conditions for the poor fomenting social tension, a serious backlash is brewing.”

    Maybe they're onto something?

    FT.com / China - Beijing city to raise minimum wage 21%
     
  2. Revere
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    What is the minimum wage in China, in US dollars?

    I can't read that article without registering.
     
  3. Cuyo
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    Cuyo Training a Guineapig army

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    Ahh. Link no good peeps, if you google "China minimum wage increase" it'll come up on news... Guess it knows it's a link and that's not allowed. My bad.
     
    Last edited: Dec 29, 2010
  4. Revere
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    It's now 960 yuan, or $145 per month.

    I woud support a US minimum wage of $145 per month, or 90 cents an hour based on 40 hours.

    Does that answer your question?
     
  5. Cuyo
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    Cuyo Training a Guineapig army

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    No. It completely ignores the underlying justification. You'd have to do an in depth study of related COL pricing in China in order for that answer to have any relevance at all.
     
    Last edited: Dec 29, 2010
  6. Revere
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    This thread didn't work out the way you planned, did it?
     
  7. Two Thumbs
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    Now this is some full circle irony.

    Decades ago this little known farmer named Mao, got the down trodden poor together and murdered the wealthy. At least 60 million were put do death before Comrade Mao slipped his mortal coil and began cooking in hell.

    And now, the descendent's of the people he cast out, but not murdered, are getting ready to over throw the tyrants once more.

    Sweet, sweet karma.
     
  8. bucs90
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    bucs90 Gold Member

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    The gap between rich and poor is growing?

    But how? China is a wonderful, sensitive, tolerant caring socialist/communist country? Evils such as income gap only happens in wicked, freedom loving capitalist America?
     
  9. Cuyo
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    Cuyo Training a Guineapig army

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    Damn u mods! "Global Discussion: Asia," really? Might as well bury it in a cave on Mars. I was viewing it in the context of our own economic disparity problems.

    But then I figured that might happen.
     
  10. Revere
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    The income disparity in China is between minimum wage workers and the state.
     

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