Han Dong Fang of the independent Hong Kong based China Labour Bulletin comments in this FT video on the recent labor unrest and tragic Foxconn suicides.
A wildcat strike at Honda has led to a large wage increase as well.
I recently was profiled in Inside Fashion making the point that the global “race to the bottom” in China has likely touched bottom. Workers there are pushing back.
The regime itself now likely realizes the need to raise domestic demand to counter balance the hit the export sector is taking. The key step now is the legal recognition of genuinely independent unions. In the longer run the new Chinese labor movement must develop an alternative perspective on economic organization.
June 1: Han Dongfang on why Chinas labour system is broken – world – FT.com.

Indeed. Arrest Tony Hayward and bring in the Navy’s deep sea teams to deal with this. We have had deep sea capacity since the days of nuclear subs and the Cold War. Why not use it to protect us for once?
Felix Salmon notes the problem: an explosion of fictitious capital (149% of GDP “in a best case scenario”) with a possible fall in GDP of 12%!