- Registration time
- Last login
- Online time
- 1223 Hour
- Reading permission
This post was edited by abramicus at 2016-3-21 01:01|
Instead of blaming the overvaluation of the Yuan imposed by the so-called "Economic Team" for the overcapacity of China's mining and manufacturing companies, who can no longer sell their products due to the overpricing of Chinese products and services at home in Yuans and abroad in dollars, the Economic Team is blaming the SOES and their workers, and forcing factories to close and labor to be laid off.
Instead of migrating the laid off workers into higher tech jobs with higher pay, they are being relocated to lower tech jobs such as cooking, cleaning, and logging with lower pay - as can only be expected if the rest of the economy cannot sell abroad due to the overpricing of Chinese products by the overvalued Yuan - in short the overvaluation of the Yuan, not the manufacturing sector, has overpriced Chinese wages in Yuans at home, and therefore, also in Dollars abroad.
This will make the Great Leap Forward look like prosperity.
Foreign reporters have begun to pay notice to the nightmare engulfing the workers of mines and factories, whose products have not been selling to other businesses or consumers, because these in turn could not sell their products which have become overpriced due to the overvaluation of the Chinese Yuan, caused in turn by the Economic Team. Workers in mines are being migrated to even lower tech jobs like sanitation, cooking and logging, that pay only half or a third of their previous salaries, with the luckier ones losing only a quarter of their pay. Supposedly, they are going to be "retrained" for "higher paying jobs so that China will have a middle class equal to the West". Well, they better make cleaning street and toilets more high tech pretty soon, and pay these sanitation workers a higher wage than what they earned as miners.
China is not reconstructing, but rather is deconstructing, or simply put, self-destructing, using its massive dollar reserves to jack up the Yuan until the economy collapses and social harmony, peace and order are destroyed.