China’s minimum wage rising as rich-poor gap widens - News and Current Events | futures io social day trading
futures io futures trading

China’s minimum wage rising as rich-poor gap widens
Updated: Views / Replies:160 / 0
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Thread Tools Search this Thread

China’s minimum wage rising as rich-poor gap widens

  #1 (permalink)
Elite Member
Aurora, Il USA
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
kbit's Avatar
Posts: 5,884 since Nov 2010
Thanks: 3,303 given, 3,334 received

China’s minimum wage rising as rich-poor gap widens

HONG KONG (MarketWatch) — In China, a parade of local governments are rushing to raise the minimum wage, with the moves coming amid a recent widening of the already-large gap between rich and poor.

So far this year, 16 provinces and major cities in China have hiked their minimum-wage levels by an average of 14.2%, according to Xinhua News report citing the latest statistics from the Ministry of Human Resources and Social Security.

The wage hikes “may affect part of China’s labor-intensive enterprises, especially those small and medium-sized ones paying employees the minimum wage as their basic salaries,” the report quoted ministry spokesman Li Zhong as saying.

Among the 16 regions, Shanghai’s minimum wage is now the highest, with the monthly rate increased by 12.3% to 1,820 yuan ($293) and the hourly wage hiked by 21.4% to 17 yuan ($2.70), according to data compiled by the state-owned China News Agency.

Meanwhile, data on the ministry’s website showed a total of 27 regions increased their minimum wage by an average of 17% in 2013.
Wealth inequality vs. income inequality

The minimum-wage raise come against the backdrop of a widening gap between China’s rich and poor.

A recent survey by Peking University showed that 1% of China’s richest families owned more than 30% of the nation’ s total wealth in 2012, while the poorest 25% only possessed just 1%.

“China’s wealth inequality has spiked quickly,” said the survey, which was published Sunday on the website of the university’s Institute of Social Science Survey.

It added that household-wealth inequality was worse than income inequality, and that the urban-rural divide and regional disparities among the driving factors.

The country’s Gini coefficient for household wealth has jumped to 0.73 in 2012 from 0.55 in 2002, the survey noted.

The Gini coefficient is a measurement of the degree of inequality in the distribution of a country’s income or wealth, with 1 representing total inequality and 0 showing total equality.

Officially, China’s Gini coefficient was 0.473 last year, according to data from the CIA World Factbook.

The Peking University figure would make China the most economically unequal on Earth, surpassing the top 3 nation’s on the CIA table — Lesotho, South Africa and Botswana, with Gini coefficients of 0.632, 0.631, and 0.600, respectively — though those figures measure income rather than wealth.
Tough times for China’s graduates

Unfortunately, the situation may not get better anytime soon, judging from a report Monday in the state-owned Beijing Youth Daily newspaper.

China’s college graduates are facing the “toughest job-hunting season in history,” with almost 39% of this year’s college graduate lacking employment as of May, the report said, citing research from ChinaHR, one of country’s the largest recruitment sites.

Possibly as a result, China’s younger generation is becoming more entrepreneurial, with almost 19% of recent graduates are leaning toward starting their own business, jumping from just over 2% last year.

The report also included survey results on which companies students would most like to work for, with China Mobile Ltd. HK:0941 +0.95% CHL -2.59% ranking No. 1. Some foreign firms are also seen as attractive, with Apple AAPL -0.05% ranking No. 26.

China?s minimum wage rising as rich-poor gap widens - MarketWatch

Reply With Quote


futures io > > > > China’s minimum wage rising as rich-poor gap widens

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Upcoming Webinars and Events (4:30PM ET unless noted)

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5

Similar Threads
Thread Thread Starter Forum Replies Last Post
Inequality gap between super rich and poor continues to widen Cloudy News and Current Events 0 April 23rd, 2014 06:02 AM
Mixed Results in U.S. Study of Increasing Minimum Wage kbit News and Current Events 0 February 18th, 2014 07:49 PM
Minimum Wage Hike? Main Street Says Shove It Quick Summary News and Current Events 0 March 26th, 2013 03:10 PM
Minimum Wage Raise Has Risks for Obama, Economy Quick Summary News and Current Events 0 February 13th, 2013 10:50 AM
Gap Between Rich and Poor is Widening: The US Poverty Report and Obama’s.... Victory Trader News and Current Events 0 September 17th, 2012 05:41 PM

All times are GMT -4. The time now is 04:08 AM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432,
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-28 in 0.08 seconds with 19 queries on phoenix via your IP