China

In 1970s China accepted concept of ‘Iron Rice Bowl’. It meant lifetime guaranteed job security, and confirmed steady income and benefits. The doing away of ‘Iron Rice Bowl’ was an important policy during the 1980s of Deng Xiaoping when labour reforms were started to usher the industrial growth. Under ‘Iron Rice Bowl’ people working in army, civil services and SOEs had security of future. But this promise was under iron-fist

  In last one and half years Chinese government has tried to sustain its economy by reducing interest rates and by giving out bailout packages to state-owned enterprises (SOEs). China has been regularly devaluing its currency to stabilize its exports-dependent economy. But still, all these efforts are falling short with decline in manufacturing, reduction in exports and bankruptcy of SOEs. To come out of this mess Chinese government has further

  China is a country known to exist behind a veil of secrecy and iron curtain. Most of the happening in this single-party ruled nation goes unreported by the world media. But recently media reported of an ‘order’ of Politburo of Communist Party of China that oversees affairs of this ruling party. The order was given to party functionaries and government officials, which says that if they fail to stop