Violent Unrest in China
This has been one of our main themes, that the financial crisis would eventually begin to effect stability in China. The hundreds of millions of migrant laborers, many unskilled and working for a pittance, are now losing their jobs and some are not at all happy about it…
Bankruptcies, unemployment and social unrest are spreading more widely in China than officially reported, according to independent research that paints an ominous picture for the world economy.
The research was conducted for The Sunday Times over the last two months in three provinces vital to Chinese trade – Guangdong, Zhejiang and Jiangsu. It found that the global economic crisis has scythed through exports and set off dozens of protests that are never mentioned by the state media.
…and this at a time when the Obama administration is looking to bully China for more money to buy U.S. treasuries and cover the “stimulus” spending now proposed in congress. Unfortunately, for them, they won’t be able to use the same tactics the CCP does in China…
The Communist party is so concerned to buy off trouble that in one case, confirmed by a local government official in Foshan, armed police forced a factory owner to withdraw cash from the bank to pay his workers.
“Hundreds of workers protested outside the city government so we ordered the boss to settle the back pay and sent police armed with machine-guns to take him to the bank and deliver the money to his workforce that very night,†the official said.
…now that’s efficiency! The downfall of Communist China is going to happen much sooner than anyone expects.
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