"We never used to hire temporary workers, because labor costs were not very high. Our workers were on staff," said Huang Biliang, who runs a button factory in the southern city of Dongguan. "But recently we've started to hire more temporary labor."
In a stainless steel factory in the nearby town of Jiangmen, David Liang, manager of Chiefy, agrees: "Every additional (permanent) worker I hire is an additional risk."
The result is a section of China's manufacturing base that has adapted to volatile conditions and higher wages - keeping the country's hold on some labor-intensive work that it might have lost to cheaper regions elsewhere in Asia.
Struggling companies do occasionally turn to temporary workers - but this is a change for China, where authorities have sought to crack down on precarious employment, introducing tougher rules in 2012 to protect so-called 'dispatch' workers.
China wants to shift away from piece-work toward a high-tech consumer economy. Shiling's experience suggests, however, that casual labor could help the country's plethora of small manufacturers remain sellers of cheap shoes, toys and stainless steel pans for a few years yet.
"The Lock-In Effect of Rising Mortgage Rates"
-
Today, in the Calculated Risk Real Estate Newsletter: "The Lock-In Effect
of Rising Mortgage Rates"
A brief excerpt:
Here is new working paper from Feder...
No comments:
Post a Comment