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China’s Economy Bad News for Next Leaders
Thursday, November 1, 2012 18:20
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As China's economy shows signs of faltering, Chinese leaders may have a hard time keeping the prestige China has as the second largest economy in the world. Since 2002, China's economy has almost tripled in size, but analysts say, without political reform, the country could be headed for troubled times. One of the platforms China's leaders have run on is economic equality between the rich eastern cities and the poorer rural areas. Despite recent agricultural tax breaks, this 79-year-old farmer says he is still not earning in a year what his urban counterparts make in a month. [Tai Lianqing, Farmer]: (Male, Mandarin) “We can't compare with anybody else, but if we compare our own situation now with how it was before, it is many times better. Of course we can't compare with big cities, for example, on income. Those people earn several thousand yuan a month, but we only earn two or three thousand yuan a year. The difference is huge.” One migrant worker at a trade fair in Yuwu, Zhejiang Province says he now expects to make at least 5000 yuan a month. [Liang Hongbin, Migrant Worker from Hunan]: (Male, Mandarin) “People like us now want at least around 5000 yuan a month. If we don't get around 5000 yuan a month, each family still has children who need to eat. Then there is the rent to pay, and at the moment commodity prices in Yiwu are increasing. Everything is getting more expensive.” One factory owner also in Zhejiang Province says he was forced to lay off almost half his …
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2012-11-01 17:43:27
Source: http://www.youtube.com/watch?v=zim_k5xgw1o&feature=youtube_gdata
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