Tony Sagami - Veteran investment advisor and a leading expert on Asian markets.

Factory closures send Chinese migrants back home

by Tony Sagami on January 23, 2009

in Asian Market, Stock Market in China

Tens of thousands of Chinese factories have been shut down.

According to the National Bureau of Statistics, six million workers in China have returned to their rural interior homes after losing their jobs in the costal cities.

“Out of the migrant workers that have returned home, about 20 percent have done so because the plant where they work has closed down or halted production because of the financial crisis.”

Related posts:
  1. Chinese factory workers lash out at U.S. Asians are angry at the U.S. because our credit crisis is affecting their financiallives. Here is a quote from a...
  2. China blocks financial crisis Please read this article. China may lose some export business to a slowing U.S. but itdoesn’t suffer from the same...
  3. Employment jumps in China Think the job situation is tough in the U.S.? It isn’t so rosy in China either. I’ve also chronicled the...

{ 0 comments… add one now }

Leave a Comment

You can use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

I agree to the Terms and Conditions of this blog.

Previous post: China pledges $124 billion for health care

Next post: 1 billion internet users!