Chinese leaders to consider welfare for all

Chinese leaders to consider welfare for all
March 3, 2009 -- Updated 1243 GMT (2043 HKT)

BEIJING, China (CNN) -- China National People's Congress will consider landmark legislation that would make social benefits universal when it meets Thursday.


Delegates have begun to gather for China's annual meeting of its National People's Congress.

The NPC -- the climax of China's political calendar -- will convene as 3,000 delegates from across the country and overseas gather in the capital, Beijing.

The delegates will represent China's central leadership, the military, every province, including minority groups such as Tibetans, and overseas Chinese.

Landmark social security legislation will be considered that would make health care, unemployment and retirement benefits universal. If implemented, it would mark a major change in the nation's social welfare system.

"Even if they were to put in place the world's greatest social security system and the world's greatest health services tomorrow, it will still take many, many years of testing the system before it has enough credibility to change household consumption patterns," Michael Pettis, a professor of finance at Peking University, said of ongoing attempts to stimulate the Chinese economy.

WOWZERS...this is a real eye-opener...how bad can it be that China considers something like this!!!

NWO to the rescue???

Comments...Opinions?

The WELFARE IS A LIE!!!

On a serious note, I guess they want to head down the road as the rest of us, they want to turn a somewhat productive economy into an unsustainable one I see.

I guess now they will feed the employees in addition to giving them a place to live too when they get a job. And in return they will get no paycheck.

There actually might be some truth to the "major civil unrest" theory's in China. I don't know. That is a pretty bold and unproductive move.

Something major is brewing, and it doesn't smell like the NWO it smells more like everyman for himself.


edit - changed mood to move, well because mood doesn't make any sense.

[edit on 4-3-2009 by Hastobemoretolife]

reply to post by Hastobemoretolife
They have a MAJOR unemployment problem now 10's of millions...

I've read a lot are returning to their hometown farming past.

You know that's not going to inject much capitol into their "new consumer economy"...

How do you keep that many people happy/safe/quiet/comfortable/fed/ect ?

reply to post by Hx3_1963


That is the thing I don't understand in order to make 10's of millions of people a little less uncomfortable they are going to make the other few 100 million people suffer. So really I guess they are just paying off the 10's of millions so they don't cause any ruckus.

These kind of social programs just don't make sense to me. It is all about control for them. If they really want to make them happy how about loosening the chains and give them some more freedom.

When it comes to China, you have to admit that 20 or 30 million people really isn't that much for them. A "consumer based economy" won't ever work for China unless they loosen the chains.

I feel bad for those people, but doesn't the government take most of what they grow? So how about letting them keep what they grow and sell it and tax them.

reply to post by Hastobemoretolife
I think in the outlaying villages the Gov doesn't mess with them to much...small plots for themselfs and trading with their neighbors.

Probley more of a pacifier...keep 'em calmed down thing...for now...

reply to post by Hx3_1963


Something isn't right about this whole situation. They wouldn't be doing this unless something is bubbling under the surface. The only thing that I can think of is they are preparing for things to get really, really bad.

Of course governments know all the inside information that we don't know. I don't know. I think the only thing that is predictable in the goings on of the world right now is that things are going to get worse world wide. Just nobody knows how much worse.

reply to post by Hastobemoretolife


This is the perfect move for China to be able to *honestly* say it can no longer afford to invest in US Treasuries, and therefore, no longer finance our ever-increasing debt.

China has been trying very hard to find a way to use it's "excess currency reserves"

Giving it to their own people in a time of economic meltdown is the PERFECT way to keep the people happy and stop a revolt before it ever has the chance to begin.

The US should be very scared of this move, when we cannot finance the budget, stimulus, bailouts, etc. We will become - very quickly - a 3rd world country

reply to post by redhatty
Star 4 U!

You hit a home run on that...

Between hedging on natural resources, excess currency reserves for stimulus and social programs, they should weather this better than us.

As they sink more and more into their own system we'll soon become a unwanted burden I suspect as well...

...and if fiat currency breaks down completely...well... they'll still have the Natural Resources for their own consumpion as well at bartering...

reply to post by redhatty


That makes sense. A lot of sense.

I knew it was a matter of time before China cut us off, but Obama acting like a 15 year old with an unlimited charge card and him not being able to reign in his party, and the republicans aren't helping any by any means.

They aren't going to be able to finance doubling our national debt. The Chinese are not stupid they see what is going on.

So I guess they are going to shore up there own economy and weather the global collapse.

reply to post by redhatty


I agree with this assessment as well red. The Chinese know that they cannot possibly keep taking the worlds debt and remain stable internally.

Hopefully this is correct, that way treasury market finally dislocates and this obscene spending like there is no tomorrow immediately ends. How I wish for an overnight cut of the federal government by 50% or more.

I'll have to ask my wife (whom is Chinese) on how she feels about the government there doing this. In all my discussions with her about China, there is an ulterior motive to this.

Originally posted by Hx3_1963
How do you keep that many people happy/safe/quiet/comfortable/fed/ect ?

War...

The US should be very scared of this move, when we cannot finance the budget, stimulus, bailouts, etc. We will become - very quickly - a 3rd world country

It's going to happen...it has to...they won't stop spending. This can't go on for eternity..and with yearly deficits for years to come...in the billions...IF for some god forsaken reason this stimulus crap works...which it won't...
There is no possible way to stop this without GOVERNMENT SPENDING CUTS...drastic ones. All they are doing is expanding it...and raises taxes on business' in a DEPRESSION.

This isn't a recession this a depression. It's here. There aren't bread lines yet...but it's here.

It's too bad we don't export more than we import like we did back then...or not have a HUGE INSANE debt staring us in the face. We actually produced stuff back then as well.

We're screwed redhatty, screwed in so many ways we don't have enough holes to take the reaming.

I wish people would fight this...i can't believe that after all of this...everything that has happened.....we still let it continue.