In biggest layoff in China, coal company axes 100,000 workers

[AndrewJin]

Accept your economic end with grace my friend. Your days are over now. make way for Indians

Of course, I hope China can be slower since from 2015 to 2017 China's GDP will add another new India.

 

[Aepsilons]

Accept your economic end with grace my friend. Your days are over now. make way for Indians

The new normal will take gradual time for acceptance. Wait till 2016-2017...

 

[cirr]

Not good news for the 100,000 newly unemployed, however. Lets hope they were able to get jobs.

Don't worry。According to many western reports，China is short of man power due to demographic reasons。

These miners will soon find better paid and safer jobs。

And their families are kissing goodbye to sleepless nights。

 

[AndrewJin]

The new normal will take gradual time for acceptance. Wait till 2016-2017...

The new normal, 6%-7% adds new India faster than ever bro.

 

[TaiShang]

Accept your economic end with grace my friend. Your days are over now. make way for Indians

It is widely open for you since 1960s. And you definitely made good use of it.

 

[XiaoYaoZi backups]

Sign of slowing economy. Days of China are over.

If a country at 6-7% economy is over, how can the pathetic island country that has gone through its lost 25 years with a far less growth rate and struggles heavily to almost sustain a pitiable zero growth rate live out of the next lost 5 years and embrace the lost 30 years.

 

[Dungeness]

Just like Indian democracy.

Well, at least India people do not have to worry about "lay off" issue. 80- 90% of their workforce are employed in so called "informal sectors", where you get nothing buy daily pay for your labor.

 

[Aepsilons]

Don't worry。According to many western reports，China is short of man power due to demographic reasons。

These miners will soon find better paid and safer jobs。

And their families are kissing goodbye to sleepless nights。

Let's hope that they will find new jobs. Tho coal mining may not be 'aesthetically' pleasing, these workers were providing for families back home in the provinces. Sometimes its important to consider the effects of economic restructuring on the grass roots level. Rather than on macroeconomic modelling analytics.

 

[AndrewJin]

Well, at least India people do not have to worry about "lay off" issue. 80- 90% of their workforce are employed in so called "informal sectors", where you get nothing buy daily pay for your labor.

It's so funny here in PDF.
Some Indians cheer of China's shrinking labour force, while some are cheering of China's jobless labour.

 

[Bussard Ramjet]

Now is the time of India (they're growing at 8% level now).

Actually it is a very good news. This means that reform of inefficient and bloated state sector is progressing.

 

[Aepsilons]

The new normal, 6%-7% adds new India faster than ever bro.

The new normal is China's growth will be 6-7%, and gradual restructuring on the manufacturing sector. India, which is still in the lower growth schema will receive the jobs that China will be ridding of, i suppose, a trickling effect. To borrow Bush's economic phrase. India has now 1.25 billion; labor is there, resource is there. An infinitesimal labor market.

$$$$

Actually it is a very good news. This means that reform of inefficient and bloated state sector is progressing.

India should not goal to exceed 10% gdp growth per annum. Its not healthy. Maintaining a 7-8% growth model for the next 20-30 years will be what will projects India to middle income status per capita. Lastly, its important not to compare to China's overall GDP size as that's not actualized. Its best to focus on India and India's growth.

 

[Dungeness]

It's so funny here in PDF.
Some Indians cheer of China's shrinking labour force, while some are cheering of China's jobless labour.

For those working in India's "informal sectors", "lay off" is on daily basis. They come to work today and get pay for today, and they may not need to come tomorrow. So in a way, "lay off" is just part of their normal daily life. "Benefits"? what is "benefits"? "Job security"? what the heck is job security? Let alone “Five Benefit, One Insurance” that is mandatory for every employers in China.

Indian internet warriors here are just top of the cream of Indian society, either working in regular companies or still sucking on their parents. They have not idea how majority of their countrymen live their life, and thought they are in the same league of China and just 15 years behind. So they just poke fun of themselves so quite often.

 

[AndrewJin]

The new normal is China's growth will be 6-7%, and gradual restructuring on the manufacturing sector. India, which is still in the lower growth schema will receive the jobs that China will be ridding of, i suppose, a trickling effect. To borrow Bush's economic phrase. India has now 1.25 billion; labor is there, resource is there. An infinitesimal labor market.

$$$$



India should not goal to exceed 10% gdp growth per annum. Its not healthy. Maintaining a 7-8% growth model for the next 20-30 years will be what will projects India to middle income status per capita. Lastly, its important not to compare to China's overall GDP size as that's not actualized. Its best to focus on India and India's growth.

India is not so attractive compared to ASEAN.
ASEAN has proximity to East Asia' manufacturing chain.
Way better infra and educated labour with discipline and work ethics.
U have to look at real number and real investments, not just those crazy media propaganda.

As far as I see, most labour intensive factories which move away from costal China, they either go to interior of China or to ASEAN countries. Cheap labour is not and alway not the first consideration, how much u can get from labour is. If u pay $200 per month for an Indian worker with only 1/4 of productivity of a worker from Thailand, why should u move there? Plus, u have to consider the abysmal infra and commerce-unfriendly environment. Most companies which take in part in the so-called Make-in-India are only eying their domestic market as opposed to the world market.

 

[Keel]

So the indians are gleeful about the slow-down in China's economy and keep cursing it to death while the real scenario is they are cursing their own fast demise instead:

"High prices of rough diamonds, coupled with lack of finance options — especially for smaller units — and poor demand from Chinese market are all adding to the woes of the diamond industry in Surat, which cuts and polishes 80 per cent of the rough diamonds that come to India."

- See more at: Slump In Market: Shut units, jobless workers take sheen off Surat’s diamond industry | The Indian Express

 

[AndrewJin]

For those working in India's "informal sectors", "lay off" is on daily basis. They come to work today and get pay for today, and they may not need to come tomorrow. So in a way, "lay off" is just part of their normal daily life. "Benefits"? what is "benefits"? "Job security"? what the heck is job security? Let alone “Five Benefit, One Insurance” that is mandatory for every employers in China.

Indian internet warriors here are just top of the cream of Indian society, either working in regular companies or still sucking on their parents. They have not idea how majority of their countrymen live their life, and thought they are in the same league of China and just 15 years behind. So they just poke fun of themselves so quite often.

They may not know, if workers in my city's Wuhan Iron&Steel have nothing to do, they still get paid and have pension after 50-55(yes, they retire at 50/55 year-old). My mother is jobless since 1990s, she lives happily with monthly income and since last year, she turned 50s and gets pension now.