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Author: Larry01Gott Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3433  
Subject: The Changing China Date: 8/13/2003 5:15 PM
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It has been known for some time that China is closing its state run enterprises as fast as it can, and faster than it may be wise. The good news is that private enterprises have been able to absorb a good many of the laid-off workers. We are talking about ten's of millions of people eventually being laid off as the state run facilities close.

But here is an interesting quote from the ChinaDaily.com picture-article:
Job fair for laid-off workers in Jilin

"A man and his son look at job vacancies at a job fair for newly laid-off workers from State-owned enterprises in Jilin, Northeast China's Jilin Province, August 13, 2003. More than 100 privately owned enterprises in the city offered tens of thousands of job opportunities for the laid-off workers. China is going to amend its Constitution to promote market system reform. [newsphoto.com.cn]"

The factuality of the bold comment has been confirmed from many China-watcher sources, and is indicative of the new China emerging. (But market reform should not be interpreted to mean democracy. China will continue to be under the communist People's Republic regime for the foreseeable future -- hopefully in the same way that Poland, Russia, Albania, Czechoslovakia, and Hungary were going to continue to be communist.) I'll have more to say about this in a future post.

Here is the link to this e-story:
http://www1.chinadaily.com.cn/en/doc/2003-08/13/content_254581.htm

Larry
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