Well, things are great on the silicon front in China! China's only billionaire (in dollars) made his fortune by listing his internet company NetEase, and Jiang Zemin's son is in a partnership with the son of Formosa's foremost monopoly capitalist Wang Yung-ching on a chip foundry (with Neil Bush acting as 'consultant' to complete the bizarre love triangle), while Hu Jintao's daughter is married to the CEO of China's SINA.com (it's biggest internet portal).
But I digress. Like O'Reilly, we only deal in fact here! To wit:
Formal unemployment hit a two decade high this year:
http://www.chinastudygroup.org/index.php?type=news&id=464
Rural un/underemployment of 200-300 million:
http://www.ccrs.org.cn/Newsgl/ReadNews.asp?NewsID=5688 http://www.chinastudygroup.org/index.php?type=news&id=3593
(oh, and rural industry is shedding jobs now too!)
Manufacturing employment in China fell 15 million from 1995-2002:
http://www.chinastudygroup.org/index.php?type=news&id=3022
Stagnant incomes of industrial workers in the South here:
http://www.chinastudygroup.org/index.php?type=news&id=4150
Income of agricultural workers (about half the labor force) stagnant since 1997. Take your pick of articles at this gnarly url: http://www.chinastudygroup.org/index.php? type=newssearch&textfield=rural&arrange=1&area=4&go=Go
And if you want to read more about the appaling conditions in rural China, read on here: http://www.chinadevelopmentbrief.com
cheers,
jonathan
At 09:56 PM 1/12/2004, you wrote: Quoting jjlassen at chinastudygroup.org:
> What accounted for the 'miracle' of the 'developmental states' -
> equitable growth, rapid income growth, near full employment, massive
> investment in health and education - is just not happening in China, or
> Taiwan.
Everything I've read/heard/seen about China suggests there's been massive job creation; overall, real incomes do seem to be rising; mainland firms are climbing the technology ladder very quickly; investment levels are very high (maybe 30% of GDP, or higher); China's foreign reserves keep swelling; and Taiwan continues to flourish. What's the evidence to the contrary? (A real, not a rhetorical, question.)
-- DRR
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