Hundreds of Chinese factory workers angry about strictly timed bathroom breaks and fines for starting work late held their Japanese and Chinese managers hostage for a day and a half before police broke up the strike.
About 1,000 workers at Shanghai Shinmei Electric Company held the 10 Japanese nationals and eight Chinese managers inside the factory in Shanghai starting Friday morning until 11.50 p.m. Saturday, said a statement from the parent [...]
by Phoenix Capital Research
The investment world is convinced that China is about to engage in another massive round of stimulus. After all, this is what China did in 2008 when its economy slowed, so surely this is what they’ll do now that the economy is slowing again.
The fact of the matter is that China cannot and will not do this. The reason is that the Chinese Government today is facing [...]
Lets hope this is a only sick hoax or propaganda to show Chinese govt in a poorer light. If true, then Truly Sad
Found this on Yahoo link:
Julie Keith was unpacking some of last year’s Halloween decorations when she stumbled upon an upsetting letter wedged into the packaging.
Tucked in between two novelty headstones that she had purchased at Kmart, she found what appeared to be a letter from the Chinese laborer, who had made the [...]
Reports early Monday from China suggest that a mass disturbance or riots may have broken out at a Foxconn factory in the Chinese city of Taiyuan.
It is still unclear what exactly happened, but posts on China’s popular twitter-like service, Weibo, from users in the area show photographs and video of large numbers of police in and around the factory – many in riot gear – blocking off throngs of people.
Other photos show [...]
The iPhone 5 debuted to rave reviews yesterday.
By now, millions of them are in the hands of rich consumers in the 7 lucky countries that got the iPhones first.
And, for the most part, these customers love them.
As well they should!
Because, relative to what we all carried around as recently as 6 years ago, the iPhone 5 is nothing short of a miracle.
So, it’s time to send a thank-you note to the folks [...]
The shock of losing a precious job in a town afflicted by high unemployment is always hard.
A foundation for a stable family life and secure home instantly disappears, replaced with a future filled with fears over health insurance, missed mortgage payments and the potential for a slip below the breadline.
But for Bonnie Borman – and 170 other men and women in Freeport, Illinois – there is a brutal twist to [...]
B&Q owner Kingfisher has blamed wet weather in April for a fall in its quarterly sales.
Like-for-like sales – which remove the impact of any new store openings – were down 12% at B&Q in the UK and Republic of Ireland in the 13 weeks to 28 April, compared with a year earlier.
Sales by the same measure at Kingfisher’s French operations were up 0.7%.
Kingfisher said April’s rain worsened already tough trading [...]
China’s breathtaking ascent and recent slowdown have been closely watched by investors and economists throughout the world.
Still, China may be one of the most misunderstood economies in the world.
“[I]t is amazing how poorly informed many remain,” writes Andy Rothman CLSA’s China Macro strategist.
In a new report titled Misunderstanding China: Popular Western Illusions Debunked, Rothman aims to shed light popular misconceptions about China.
“We all know somebody who misunderstands China. This report is for them.”
What follows are [...]
“SINGAPORE (Reuters) – Shares in Foxconn International Holdings Ltd (2038.HK) fell 13 percent on Friday to a six-month low after the world’s biggest contract maker of cellphones warned that weaker demand from some key customers would widen first half losses.
The company, which assembles handsets for the likes of Nokia (NOK1V) and Motorola Mobility Holdings Inc (MMI), has been grappling with rising costs and falling prices in the cut-throat market.
Foxconn International, [...]
Video: Bird’s-eye-view of world’s highest and longest tunnel-to-tunnel bridge
Read more: http://www.dailymail.co.uk/news/article-2124376/Anzhaite-Long-span-Suspension-Bridge-Worlds-highest-bridge-gets-finishing-touches.html#ixzz1r1vS3yNv
by Gus Lubin
America is failing to compete not only with Chinese workers in sweatshops but also with German workers leading pretty good lives.
The LA Times’ Don Lee examines how a German couple with a combined income of $40,000 has a “higher standard of living than Americans who have twice that income.”
Volkmar, a foreman at a glass factory, and Vera Kruger, a part-time worker at a company that tracks inventories, enjoy job security, good social [...]
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 [...]
Thousands of Chinese workers protesting over compensation and job security at a Sanyo Electric Co Ltd plant clashed with police in southern Shenzhen, media said on Monday, the latest outbreak of labor unrest in China’s manufacturing hub.
About 4,000 workers protested over the weekend at the Sino-Japanese joint venture, the Chinese-language Oriental Daily reported. Sing Tao Daily and the People.com.cn website put the number at over 3,000.
The People.com.cn website said [...]
Since the beginning of the Industrial Revolution, every economic boom has been followed by an economic bust. The bigger the boom, the bigger the bust. Over the past 20 years, China has experienced the greatest economic boom in history. It is only a matter of time before the great Chinese bubble pops.
China’s economic model is based on export-led growth. That model is now even more [...]
Two ships braved churning seas Thursday to whisk some 4,500 Chinese workers away from strife-torn Libya to the island of Crete, while rough weather further west in the Mediterranean left hundreds of Americans stranded on a ferry in Tripoli.
As tens of thousands of foreigners sought to flee fierce fighting in Libya, European countries scrambled to send more ships and military planes to the North African [...]
The populace are more easily bought over when the current unemployment rate is so excruciatingly high, and everyone is suffering. What these politicians do not tell their electorates is that few would want to buy goods from such companies because their goods would be out-priced in the global market. What would happen to these American companies as a result?
Meanwhile, as these companies pull out their investments from China [...]
We will start by the Nafta accord were we lost millions of jobs to lower paid worker in Mexico, Nafta destroyed the American Textile industry.
Then our Government open up trade with China still the American people lost even more millions of jobs to lower paid Chinese workers. And also to artificially low exchange rate with the Chinese Yuan vs Dollar allowing Trade only to flow in one direction East to [...]
1. Domestic demand in China is not likely to become a prime driver of growth and imports for one overwhelming reason: The Chinese people are compelled to save even when they would rather consume .
Why? First,fear and lack of trust in the Govt. They know that Govt promises to provide good education, reliable healthcare and a dependable retirement are not just meaningless but outright lies. Therefore, people MUST depend on [...]