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China vows double workers' wage in 5 years [Copy link] 中文

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Post time 2011-4-19 16:48:35 |Display all floors
China is striving to increase the average Chinese wages by 15 percent annually in a bid to achieve a two-fold increase in pay by the end of 2015, the Ministry of Human Resource and Social Security (MHRSS) said according to a report in the Beijing Times Tuesday.

Yang Zhiming, vice-minister of human resources and social security, speaking during a national labor relation conference Monday, said 13 provinces have raised their minimum wage by an average of 22.8 percent, with more cities likely to see a pay raise within the year.
Addressing the widening income gap between the wealthy and the poor, Yang said the income of officials should be transparent and payment regulations should be re-examined for people with a high income.

The report says heads of 90 percent major Central State-owned enterprises can earn in excess of a million yuan a year. Yang said the 12th Five-Year Plan (2011-2015) is therefore set to narrow the income gap and re-distribute human resources and money among the high wage earners.

The problem of migrant workers failing to get paid on time will also be addressed by the newly-revised Criminal Law, which added "malicious arrears of wage crime" into its articles thanks to the ministry's lobbying the Standing Committee of National People's Congress earlier this March during China's "two sessions."

"We'd spare no effort step by step to ensure there's no wage-arrears in China by the end of 2013," Yang said.
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Post time 2011-4-19 16:51:54 |Display all floors
I don't think it's possible given the current economic situation. All over the country now become a big construction place and it depends on property industry too heavy can't be sustainable since the current house prices are already sky-rocketing. Once the meltdown of the industry, nothing could find to pillar the macro-economy of China.

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Post time 2011-4-20 11:15:17 |Display all floors

i agree

Originally posted by anonymous.cd at 2011-4-19 22:35
Supposed one guy earned RMB 500 in 1980.  He could buy 500/0.02 = 25,000 cabbage in 1980.
one guy earned RMB 3000 in 2009. He can buy 3000/2 = 15,000 cabbage in 2009.

Our government boasted, ho ...

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Post time 2011-4-20 13:05:17 |Display all floors
Supposed one guy earned RMB 500 in 1980.  He could buy 500/0.02 = 25,000 cabbage in 1980. one guy earned RMB 3000 in 2009. He can buy 3000/2 = 15,000 cabbage in 2009.  Our government boasted, how glorious our achievements are. the salaries of Chinese workers have increased 6 times during 20 years.  Actually, the salaries was going down in the flation. Bacause government printed too much paper money.


Good post!

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Post time 2011-4-20 13:24:51 |Display all floors

Reply #3 anonymous.cd's post

Your post is very good trick!

ha ha ha

In 1980, the citizen can buy 25,000 cabbage with his Rmb500 a month salary.
Trouble is, he couldn't buy much else with his money (a few thousand Rmb savings)!
Yes! He only needs at most 30 heads of cabbage a month for his food, He also needs 30 katies of pork, and some fruits. His home is "state provided", and he saves a lot of his salary - probably more than 60% - BUT he doesn't own his home or land. (The state with Uncle Deng's Reconstituted "Intensive Farming" system - can now produce the cheap cabbage at Rmb0.02 price!)

In 2010, the citizen salary now is Rmb3,000 a month and he can only afford 15,000 heads of cabbage.
Yet, he DOES NOT NEED more than 30 heads of cabbage a month!

ha ha ha

But now, in the improvements now have a lot more PRODUCTS, DURABLES available!
There is TV, radio, motorcycle initially - now affordable cars (rmb30,000 a unit), and he can "borrow money" to buy ASSET - a home on hire purchase. And he still have MORE rmb in his savings accounts compared in 1980 (probably several tens or hundred of thousands rmb). His assets includes a home, social security account, and savings!

ha ha ha

cheerios!

Green DRagon
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Post time 2011-4-20 13:28:09 |Display all floors

Reply #4 anonymous.cd's post

make sure the total mix of PRODUCTS, DURABLES, ASSETS, CASH, SOCIAL SECURITY MIX improves.

not just a simple measure of "number of cabbage"!
in fact, the price of a durable vs cabbage seems to indicate CABBAGE becoming more expensive in relations to INDUSTRIAL PRODUCTS.

That's the advantage of the British Created Industrial Revolution.
Say THANK YOU to Uncle Tommy when you next visit London!

cheerios!

Green DRagon
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Post time 2011-4-20 14:22:42 |Display all floors
Reply #3 anonymous.cd's post

Your post is very good trick!
+++++++++++++
maybe it need to improve the method.

We need to do the compasion of  the ratio with more consumtions, like the CPI calculation...

But it is not trick and it interpret a phenomenon..

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