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Coronavirus could cost China $556b in 2021, but its economy is still expected to grow

March 02, 2021
A walks by Beijing s Central Business District during morning rush hour as the spread of the new coronavirus disease (Covid-19) continues in China, April 17, 2020,
Reuters
The coronavirus pandemic could cost China the equivalent of 2.7 per cent of its gross domestic product this year, although the economy may still grow by over 8 per cent, according to a new study by Chinese and American researchers.
The industrial and processing sectors are likely to bear the brunt of the impact, with coal, ore, metal, electricity, gas and food producers expected to see the value of their output fall by between 2.8 and 5.4 per cent, said the team from the Chinese Academy of Sciences’ Centre for Forecasting Science and the University of Kansas. ....

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Trade unionism and the welfare of rural-urban migrant workers in China

Richard Freeman, Xiaoying Li
The growth of insecure or precarious work has been well-documented, and the OECD notes that “the rights and protections of vulnerable workers falling outside the traditional remit of labour law and social protection should be strengthened” (OECD 2019: 15). Some commentators also note that trade unions play a useful role in reducing worker exploitation and counteracting the monopoly power of the firm (McNicholas et al. 2020).
While examples of precarious work can be found all over the globe, a particularly interesting example is provided by Chinese rural-urban migrants. Over the past few decades, China’s rapid industrialisation has been accompanied by mass migration as workers move from rural areas to cities in search of better pay. But in this large-scale rural-urban migration, the rights of migrants have not kept pace with those of urban workers. Migrants have been essentially treated as guest workers with few rights and limited access t ....

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China's Tattered Social Safety Net – Business Week | China Digital Times (CDT)

Posted by Mo Ming | Jan 3, 2007
From Business Week:
The one-child policy combined with a large aging population means pensions are in danger of falling short. What’s the solution?
Time is running out for China’s pension system. The one-child policy has created the 1-2-4 phenomenon within many of the country’s households – one child, two parents and four grandparents. With the dependency ratio doubling by the generation, China’s working-age population is expected to peak in 2010 and by 2040 there will be two workers for every one retiree, down from six to one in 2000.
Based on current progress, there won’t be enough money in public or private pensions to support the elderly – and that’s discounting the rural population uncovered by the state system. Working with institutions such as the World Bank, the Organization for Economic Cooperation and Development and the Asian Development Bank, Stirling Finance chairman Stuart Leckie has run a number of proj ....

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