No inflation in U.S.? There's plenty in China

China Raises Minimum Wages

By The Associated Press
via Yahoo News
Friday, June 29, 2007

http://news.yahoo.com/s/ap/20070629/ap_on_bi_ge/china_wage_boost;_ylt=Ap...

China's government has ordered minimum wages raised to help the poor cope with soaring food costs, a state news agency reported Friday.

Chinese leaders have been alarmed by a spike in inflation that saw the price of eggs rise 37.1 percent in May from their price in the same month last year. Meat and poultry were 26.5 percent more expensive in May compared to a year ago.

The increase "would have a great impact on low-income families," the Xinhua News Agency said.

Local authorities were ordered Thursday to submit plans for raising minimum wage levels, which vary widely from region to region, the agency said. It gave no details on how much wages were to be raised.

The highest current minimum wage in China is 810 yuan ($106) a month in the southern business center of Shenzhen. The lowest is 270 yuan ($35) in the eastern province of Jiangxi.

Shanghai, one of the world's most expensive cities, raised its minimum monthly wage by 60 yuan ($7.80) to 750 yuan ($98) last year.

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