Violent unrest rocks China as crisis hits

[RedEarth]

Source: The Sunday Times

Bankruptcies, unemployment and social unrest are spreading more widely in China than officially reported, according to independent research that paints an ominous picture for the world economy.

The research was conducted for The Sunday Times over the last two months in three provinces vital to Chinese trade – Guangdong, Zhejiang and Jiangsu. It found that the global economic crisis has scythed through exports and set off dozens of protests that are never mentioned by the state media.

While troubling for the Chinese government, this should strengthen the argument of Premier Wen Jiabao, who will say on a visit to London this week that his country faces enormous problems and cannot let its currency rise in response to American demands.

.........

However, a growing number of economists say the unrest proves that it is not the exchange rate but years of sweatshop wages and income inequality in China that have distorted global competition and stifled domestic demand. The influential Far Eastern Economic Review headlined its latest issue “The coming crack-up of the China Model”.



Read more: http://business.timesonline.co.uk/tol/business/economics/article5627687.ece

[Richard D]

1. What I've seen from my time in China . . .

. . . is that things spread there probably faster than anyplace else. Troubling news this.

[NM Independent]

2. Incredibly disturbing article. I fear for those people.

On the other hand, maybe they'll put an end to the one-party state by way of revolution.

Doubt it, but it could happen.

[Baby Snooks]

3. I doubt it too...

Unless the capitalists start the revolution. Reality is even today the majority of the Chinese are better off than they were during the dynasties. The dynasties have a way of oppressing everyone. As we are finding out. Of course our dynasties created some new dynasties in China. And that of course is the real problem in China.

[Waiting For Everyman]

4. The Chinese people are onto this just like we are, and everywhere else.

"...the unrest proves that it is not the exchange rate but years of sweatshop wages and income inequality in China that have distorted global competition and stifled domestic demand."

All the world is being oppressed by the same few globalist elite ultra-rich - who got that way by the tactics in the paragraph above, everywhere. Hmmm...

Yeah, I guess it'll be scary when the world's people all decide to take back their losses and prosecute these few vermin. Shouldn't be too hard to do - lots of us, few of them.

[bushmeister0]

5. Sounds like a revolution in the making,

"A researcher who watched officials handling complaints at a local labour bureau reported 'class hatred' among workers.

'Why did the boss cut your salary? You must be lazy or absent from work,' an official told one group of petitioners.

'What do you mean? Are you an official of the people’s government or a slave of the bosses?' demanded an irate worker.

Their claim dismissed, the group warned onlookers: 'We are thinking of taking extreme action.'"

Wow, this sort of talk coming out of China is pretty shocking. Wait 'til it starts happening here.

This could be workers of the world unite on steroids.

[goforit]

6. Frankly, I believe it is more that the American Consumer has stopped consuming

[aquart]

10. Meantime they can go ocean-swimming in Dubai.

[bemildred]

7. There sure are one hellova lot of poor people these days.

Kinda makes you think ...

[Lasher]

8. I've been expecting this.

Chinese have been living in crushing poverty for decades. In recent years they have had their living standard improved somewhat and they are not going to quietly go back from whence they came.

[fasttense]

9. But, but, but

China was the model for "free" market capitalism that lifts all boats in the rising tide. Isn't that what all the economists were telling us? A guy even got a nobel prize for selling out workers. I think his name was Milton.

They said that China would be the next great consumer market for all to behold. And now lookie there the workers are revolting (or just about). So what is the big problem with neoliberal or "free" market fantasies? They are a con for criminals to lie, cheat and steal their way to uber wealth at the expense of everyone else.

Turns out greed as an economic model doesn't work so well. Who would of thought it?