Skip to content

CRN: Increasing Wage Rate is Now a Must

China Review News reported that the official National Labor Union, led by the Communist Party, recently called for an immediate wage increase and described it as a must-do. The ratio of wages to GDP declined from 56.5% in 1983 to 36.7% in 2005. Meanwhile, the rate of return on capital rose by 20% in GDP. Typical working class citizens suffer a lower rate of wage increase. They are not only behind the rate of economic development, but they are behind the consumer price increase and the increase the rate of taxes as well. The report quoted Henry Ford’s 100-year-old comment on wages: “There is nothing more important than the labor wage, because most people rely on it for a living. Increasing people’s quality of life determines the prosperity of our nation.” The report called for sharing the fruit of The Reform with the people.

Source: China Review News, May 15, 2010