Impacts of the Financial Crisis on Labour Conditions in China

WERKSTATT ÖKONOMIE

Staphany Wong

Many academics have said in various occasions that China is not strongly affected by the financial crisis, or some even hold the optimistic view that China could use the financial crisis as an opportunity to expand its power1 or show that state-intervention on economic affairs such as currency value would be, after all, not a bad idea2. Whether or not their claims are valid, it would take some months, if not years, to be verified. Nevertheless, negative impacts of the financial crisis appeared in the recent months, especially haunting the workers of China. In this article, we are trying to map out the impacts of the crisis, in terms of job losses, labour relations and government's interventions.

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