Unlike in the West, where soaring inflation has brewed into a political storm, China’s middle class is more concerned with the ramifications of falling wages that are curbing non-essential spending and depressing the economic outlook. While the United States is battling its highest inflation rate in about four decades, China has seen food prices increase just over 2 per cent.
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China s coronavirus fears curb migrant worker travel over Lunar New Year
Posted : 2021-02-11 15:46
Updated : 2021-02-11 15:46
People walk under traditional Chinese lanterns along an alley in Beijing on February 9, 2021, ahead the biggest holiday of the year, the Lunar New Year, which ushers in the Year of the Ox on February 12. AFP-Yonhap
More than 100 million Chinese migrant workers will drop the decades-long tradition of returning home for the Lunar New Year holiday this year and instead stay in big cities and manufacturing hubs.
The nation s army of migrant workers has been a crucial component in the manufacturing boom that followed China s opening up to the world in the late 1970s, and for almost four decades, nothing could stop their annual journey to see their families in rural provinces.