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Steel-workers riot in China

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posted on Jul, 30 2009 @ 10:54 AM
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Steel-workers riot in China


www.marchreport.com

www.marchreport.com...-07-27-A29
One Killed In China Steel Riot
Thousands of Chinese steel workers rioted at news of a takeover deal, beating one manager to death, a Hong Kong human rights group has said. About 100 people were hurt in violence in the north-eastern city of Tonghua after workers heard that Jianlong Steel would buy a majority share. Jianlong general manager Chen Guojun was beaten to death.
(visit the link for the full news article)




posted on Jul, 30 2009 @ 10:54 AM
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How good can the world economy be? There is an awful lot of positive spin being reported all over the world, but events clearly do not warrant it.

China has been painted as savior for U.S. due to its holdings, but this does not seem to be the case if her people are rioting like this.

Consider:

1. China, together with India, hold the largest amount of Treasuries and U.S. securities in the world. Should the dollar collapse in the next year as many are forecasting, what further eruptions will take place?

2. China is steadily increasing her gold reserve, but how will this affect such industries as steel, which is clearly connected to construction? Will this raise commodities? Will steel, copper and other raw materials increase in cost?

3.And if so, will this contribute to a shrinking of construction due to increased cost?

4. Should these labor issues increase, (U.S. unemployment is under-reported and actually is much higher than 10%), how will governments handle an increasingly restive society?

5. Many reports are indicating that food is the next "commodity" to invest in. Since it is a necessity for life, how will an increasingly worthless paper monetary system affect the cost of food? China, the world's most populous country, again followed by India, will have a severe problem as the monetary issues promulgated by the World Bank and lap-dog Fed Reserve work their way through the world's monetary 'alimentary canal.'

www.marchreport.com
(visit the link for the full news article)



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