Asides Welfare Winnings
March 28, 2011
Workers' Paradise In America, where exploited workers supposedly must be protected from rapacious big business, the U.S. Congress has been debating whether to raise the minimum hourly wage by $0.90 to $5.15. In socialist China the minimum wage idea has caught on, too, although not in such a big way. The city of Beijing recently raised its own minimum wage by 12% to 19 cents an hour. The monthly minimum wage will also jump to $32.47 from $28.86. Compared with America's minimum, that amount may sound laughable. But Chinese labor is not so cheap when you factor in the housing, food, medical and education subsidies many companies are required to give their workers. At least the Chinese government clearly understands much better than American legislators the fact that a minimum wage prices lower-skilled workers out of the job market. To stave off a rise in unemployment it will be providing special loan facilities to companies that can't afford the two-cent wage hike. From The Asian Vast Press
VastPress 2011 Vastopolis
