ts market based economy to function efficiently. Otherwise marketization is in danger of going too far, too fast, annihilating non-market institution or not enabling them the chance to develop (Knight and Song, 2005). Unbridled marketization has its limits in developing a sustainable economic structure, as it is beneficial only if the power balance is strong enough to prevent the strongest from exploiting the weak. From a macroeconomic perspective such a market based labor market may establish an inflation/deflation prone system when it lacks institutions, which could contribute to more predictability and control. Labor markets have a different function with different stages of development (Cai, Wang and D, 2005) and at this stage it might be necessary to consider the development of non-market institutions. Facilitating the establishment of employer and employee associations may contribute to improved coordination in the labor market. Trade unions can be an effective tool in achieving this goal. However, the federal government s current goodwill towards strengthening their position still needs to actually materialize on the provincial level both to gain legitimacy from its members and to establish itself as a powerful tool in balancing industrial relations.
6. Wages in China
this paper I would like to write about the wages in China and the policy of attraction of foreign experts into the country. I chose exactly this theme because I have plans of connecting my future career with China. Currently I study Chinese and am planning to go to China to study for the spring semester.is the world's largest manufacturing power. Now it takes a fifth place of global manufacturing. Its factories have made so much, so cheaply that they have curbed inflation in many of its trading partners. But the era of cheap China may be drawing to a close. Costs are soaring, starting in the coastal provinces where factories have historically clustered. Increases in land prices, environmental and safety regulations and taxes all play a part. The biggest factor, though, is labor.different parts of China have very different standard of living, China does not set one minimum wage for the entire nation. Instead, the task of setting minimum wages is delegated to the local governments. Each province, municipality, or region sets its own minimum wage in accordance with its own local conditions. The table below lists the minimum monthly wages for the most popular provinces or regions in China. br/>
Hong KongMonthly (Yuan) Monthly (US $) Hubei600, 670, 750, 90095.33, 106.45, 119.16, 143Hunan600, 650, 725, 800, 85095.33, 103.27, 115.19, 127.11, 135.05Jilin830, 890 , 950, 1000131.87, 141.41, 150.94, 158.88Inner Mongolia680, 750, 820, 900108.04, 119.16, 130.28, 143.00Shanxi740, 820, 900, 980117.57, 130.28, 143.00, 155.71Shandong600, 80...
