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Thursday, October 13, 2005 

Big Trouble in Big China (Wealth Gap Grows, And Currency Value Wont?)

BEIJING (AP) - China's finance minister on Thursday rejected U.S. pressure for a quick end to currency controls, saying ahead of a visit by his American counterpart that Beijing will move at its own pace.

Combine this, with another story about the critical level of wealth disparity in China:

(Epoch Times) The wealthiest 10 percent of China's urban households now own 45 percent of the urban wealth while the poorest 10 percent have less than 1.4 percent, Chinese statistics show. […] The newspaper of the Communist Party's premier cadre training ground, the Central Party School, reported recently that the wealth disparity had reached the "yellow" warning level and could become a "red" danger within five years. "Social contradictions" are on the rise, it warned.

“Social Contradictions”… that is a cute term for your entire population seeing that Socialism is a big lie.

Get to Wal-Mart and buy up those cheap Chinese goods now, because their low production costs are not going to last too much longer. If the currency increase doesn’t come, larger worker salaries will.