August 21, 2009

Wanted: 60,000 Factory Workers in ShenZhen

Factory orders are back up in the Pear River Delta of Guangdong/Hong Kong and the Shenzhen Labor and Security Bureau says the city has 60,000 unfilled factory jobs. Earlier this year Beijing urged provinicial and county level bureaucrats to encourage migrant workers to stay home to avoid high unemployment and unrest in China's big cities. Now some areas (labor shortages are also reported for Wenzhou, Zhejiang) need low-skilled workers back. Is this a sign that the Chinese boom is sustainable? Former Morgan Stanley analyst Andy Xie, famous lately for his bear-case scenarios, says much is at stake and China could be heading for a fall if structural change doesn't come to China and its co-dependent cousin USA....

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