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The giant orange robotic arms that swiftly weld together car frames at the Great Wall Motors factory in Baoding might seem like the perfect answer to China’s fast-rising labor costs – they don’t ask for a raise, get injured or go on strike. For Great Wall, a private sector Chinese car maker that employs 50,000 workers, the Swiss robots and other machinery that line its bright factory floor produce more than [...] The funding crisis for mainland Chinese property developers is intensifying, ratings agencies say, with real-estate builders facing spiking borrowing costs and a limited ability to raise cash at a time when sales and economic growth are slowing. With Beijing still talking tough on keeping property prices in check, 2012 is likely to be a crunch year in the industry. Financially weak property developers “are likely to face a test of their survival [...] by Henry Blodget The manufacturing processes of Apple and other electronics companies have come into sharp focus of late, with the revelation of more details about what life is like for the Chinese workers who make the world’s gadgets. When one reads about these working conditions–12-16 hour shifts, pay of ~$1 per hour or less, dormitories with 15 beds in 12×12 rooms–the obvious assumption is that it’s all about money: Greedy manufacturers want to make bigger profits, so [...] (Reuters) – China’s factory activity likely fell for a third successive month in January, suggesting Beijing’s pro-growth policies will remain in place despite early signs that the downward drift is slowing, a survey of purchasing managers showed on Friday. The HSBC flash manufacturing purchasing managers index (PMI), the earliest indicator of China’s industrial activity, stood at 48.8 in January, a three-month high and a slight improvement on the 48.7 final reading [...] A Chinese child waits to be tested for lead poisoning in January Battery factories across China have been closed amid fears about poisoning from metals used by the industry. About 74 people have been detained after reports that more than 100 people, including children, were effected by lead and cadmium poisoning. The government in the eastern Zhejiang province says it has cut off water and power to 652 lead [...] |
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