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Chinese job losses prompt exodus | Chinese job losses prompt exodus |
(about 2 hours later) | |
Tens of thousands of migrant workers are leaving the southern Chinese city of Guangzhou after losing their jobs, railway officials say. | Tens of thousands of migrant workers are leaving the southern Chinese city of Guangzhou after losing their jobs, railway officials say. |
The increase to 130,000 passengers leaving the city's main station daily is being blamed on the credit crunch. | |
Guangzhou is one of China's largest manufacturing hubs, but many companies who export products have collapsed. | Guangzhou is one of China's largest manufacturing hubs, but many companies who export products have collapsed. |
Chinese officials are worried that a sudden increase in unemployment could lead to social unrest. | Chinese officials are worried that a sudden increase in unemployment could lead to social unrest. |
The most badly hit export companies are toy, shoe, and furniture manufacturers. | The most badly hit export companies are toy, shoe, and furniture manufacturers. |
There are already reports of demonstrations and social unrest in the provinces of Zhejiang and Guangdong. | There are already reports of demonstrations and social unrest in the provinces of Zhejiang and Guangdong. |
An upsurge of labour disputes caused by bankruptcies and layoffs this week forced the boom-town of Shenzhen to issue an urgent notice calling for government departments and enterprises to work together to reduce tension. | An upsurge of labour disputes caused by bankruptcies and layoffs this week forced the boom-town of Shenzhen to issue an urgent notice calling for government departments and enterprises to work together to reduce tension. |
BBC China analyst Shirong Chen says there would be a ripple effect in many inner regions of China too - the earthquake-hit Sichuan Province has 1.3m working in Shenzhen. | BBC China analyst Shirong Chen says there would be a ripple effect in many inner regions of China too - the earthquake-hit Sichuan Province has 1.3m working in Shenzhen. |
For the Chongqing municipality, three million migrant workers used to send home millions of US dollars' worth of local currency every year, but this source of funding is dwindling to a trickle. | For the Chongqing municipality, three million migrant workers used to send home millions of US dollars' worth of local currency every year, but this source of funding is dwindling to a trickle. |
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