China faces an unemployment time bomb

China News

Chinese Worker Chinese Worker

Strip away the veneer of President Xi Jinping’s “China Dream” policy and you will find 600 million people earning just 1,000 yuan a month.

Depending on the conversion rate, that works out at US$140, or $4.6 a day.

It was hardly surprising then that Premier Li Keqiang would highlight the plight of this forgotten section of society in his annual state-of-the-union style speech at the National People’s Congress last week.

His message was stark. Although at times, it was drowned out by the static surrounding the diplomatic drama with the United States, rising tension in Hong Kong and the economic fallout from the Covid-19 crisis.

“Our annual per capita [disposable] income is 30,000 yuan ($4,203), but 600 million people have a monthly income of 1,000 yuan. That is not enough to rent a room in a medium-sized city and we need to help them,” Li told a…

Ursprünglichen Post anzeigen 710 weitere Wörter

Autor: uwe.roland.gross

Don`t worry there is no significant man- made global warming. The global warming scare is not driven by science but driven by politics. Al Gore and the UN are dead wrong on climate fears. The IPCC process is a perversion of science.

Kommentar verfassen

Trage deine Daten unten ein oder klicke ein Icon um dich einzuloggen:

Du kommentierst mit Deinem Abmelden /  Ändern )

Google Foto

Du kommentierst mit Deinem Google-Konto. Abmelden /  Ändern )


Du kommentierst mit Deinem Twitter-Konto. Abmelden /  Ändern )


Du kommentierst mit Deinem Facebook-Konto. Abmelden /  Ändern )

Verbinde mit %s