TG: China’s plan to boost flagging growth is the very definition of economic insanity
THE GUARDIAN writes: China’s leaders seem to have invoked the definition of insanity, attributed, perhaps wrongly, ...
R: CAPITAL DEPLOYMENTBA: CRISIS DEEPENSGXO: UPSIDEJBHT: EARNINGS SEASON KICK-OFFAMZN: EUROPEAN REVERSE LOGISTICS GXO: NEW HIGHSCHRW: CATCHING UPBA: TROUBLE DHL: GREEN GOALVW: NEGATIVE OUTLOOKSTLA: MANAGEMENT SHAKE-UPTSLA: NOT ENOUGHBA: NEW LOW AS TENSION BUILDSGXO: SURGING
R: CAPITAL DEPLOYMENTBA: CRISIS DEEPENSGXO: UPSIDEJBHT: EARNINGS SEASON KICK-OFFAMZN: EUROPEAN REVERSE LOGISTICS GXO: NEW HIGHSCHRW: CATCHING UPBA: TROUBLE DHL: GREEN GOALVW: NEGATIVE OUTLOOKSTLA: MANAGEMENT SHAKE-UPTSLA: NOT ENOUGHBA: NEW LOW AS TENSION BUILDSGXO: SURGING
Cosco’s president has urged China’s government to implement new laws protecting workers’ benefits and matching international standards, as part of a push to attract foreign trade.
Addressing the annual Two Sessions meeting in Beijing yesterday, Zhu Bixin, also a member of the National Committee of the Chinese People’s Political Consultative Conference, said improving workers’ rights was central to boosting the nation’s shipping sector.
“It is necessary to establish a salary and welfare system with a dynamic adjustment and flexible response mechanism,” said Mr Zhu, promoting what is being called the “Crew Law”.
“[It must be] market-oriented, attractive and competitive, an effective guarantee to improve remuneration of the crew, improve the top-level design of social security, establish a social security payment and increase reduction and exemption of personal income tax on crew.”
He added that more impetus must be paid to the level of training offered to those wishing to become seafarers.
Mr Zhu’s call – particularly the focus on attracting foreign talent into Chinese shipping – came amid seeming increased concern among officials over the anti-China sentiment said to be emanating from Europe, the US and their allies.
Over the past 12 months, The Loadstar has reported extensively that US and European businesses are decreasing their engagement with China.
More recently, this has included fears for the safety of western, and western-affiliated, employees working in China, following a string of arrests on espionage charges – some sources having told The Loadstar they would think twice before sending staff to work in China.
And by all accounts, top level officials have taken note – in November Chinese premier Li Qiang having urged the world to pivot away from rising protectionism.
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