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China To Raise Middle And Low Incomes

From China’s Xinhua news service:

China to raise earnings of middle-and-low income groups: official

December 9, 2009

BEIJING, Dec. 9 (Xinhua) — The Chinese government is to raise the earnings of the middle and low income groups to boost consumer spending, said a senior economic planning official here Wednesday.

Zhang Ping, minister in charge of the National Development and Reform Commission (NDRC), the country’s top economic planning agency, made the remarks at a national meeting on development and reform.

The government will step up research on and optimization of the income distribution mechanism to improve residents’ spending capability, Zhang told the meeting.

The government will also raise the pensions for enterprise retirees and improve treatment for those who enjoy special care, Zhang said, adding the government will continue to make improving people’s livelihood a priority in 2010.

He said the government will exert more efforts to well address problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability.

Participants to the annual Central Economic Work Conference which concluded Monday agreed to fully implement and continuously improve the stimulus package and policies to cope with global financial crisis and boost development, and strengthen the role of domestic demand, especially consumption demand, in driving economic growth.

See how easy it is?

So why doesn’t Mr. Obama do this?

Or, rather, why doesn’t he have his ‘Middle Class Czar,’ Joe Biden do it?

Don’t they care about their subjects?

This article was posted by Steve on Wednesday, December 9th, 2009. Comments are currently closed.

5 Responses to “China To Raise Middle And Low Incomes”

  1. proreason says:

    “So why doesn’t Mr. Obama do this? ”

    It can only be because we are a racist country and won’t listen to the boy king.

  2. TwilightZoned says:

    “He said the government will exert more efforts to well address problems that have close bearing on public interests and ensure that all public members share the fruits of the development and reform, so as to safeguard social harmony and stability. ”

    Hmmm…Public interests. Yes, I’m pretty sure those words are not familiar to Congress or Barry.
    Share the fruits…Code for federal government officials lining their pockets so they can safeguard their elitist social harmony and stability.

  3. A gub’mint big enough to give you everything you need is big enough to take away everything you have.

    But Obama’s not like that, is he?
    .

  4. Dang.. and I was starting to respect those guys for their capitalist ways..

  5. crosspatch says:

    I talk to people in China every day as part of my work. Believe me, they are not happy with the taxes there. They are fully aware that electronic hardware that is made in China costs more to buy there than it does for me to buy it here. You can take a device that costs, say, $10,000 here and is made in China but it costs them US$30,000 to buy it there! They know that, and they complain about that. Chinese people are by and large frugal people who are responsible with their money. They shop around for prices. They see the prices for goods here. They are not happy campers.

    For example:

    A 32GB iPhone 3GS will ship at $1,024, courtesy of China Unicom, but without any kind of service plan.

    The Wall Street Journal reports that with a two year service plan the bund;e will cost $3,120, more than $500 more than a similar package in the USA.

    So if you want an iPhone in China, you pay $4,000 for it up front and can use it for two years. They don’t do monthly payments there. You pay the whole plan up front. If the iPhone cost $1000 in the US, nobody would have one but they cost $1,000 in China. That is NOT CNY1,000, that is USD1,000 which is about CNY 6,800. And the bloody things are made in China to begin with for both markets!

    As more Chinese work their way up and accumulate wealth, they are not at all happy with the government redistribution of it.


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