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Hong Kong workers to enjoy minimum wage for first time

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Viva_La_Revolution Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-30-11 09:45 PM
Original message
Hong Kong workers to enjoy minimum wage for first time
Source: http://www.bbc.co.uk/news/business-13248027?utm_source=twitterfeed&utm_medium=twitter

Hong Kong has introduced a minimum wage that is expected to benefit 270,000 low-paid workers, or around 10% of the working population.

Workers will now earn a minimum of HK$28 ($3.60; £2.18) per hour.

The legislation was passed in response to public pressure to narrow the territory's wealth gap.

But the minimum wage has been resisted by the business community, who say it is too costly.

Read more: http://www.bbc.co.uk/news/business-13248027?utm_source=twitterfeed&utm_medium=twitter
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freshwest Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Apr-30-11 10:34 PM
Response to Original message
1. Good news for Hong Kong. In the meantime, Repugs want to eliminate our minimum wage!
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Kolesar Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 05:39 AM
Response to Original message
2. $3.60/hour was the "minimum wage" I earned 32 years ago
How did this get past the dictators?
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Cal33 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 06:34 AM
Response to Reply #2
4. We also don't know what the cost of rent, food, basic utilities, etc. is in Hongkong.
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Cal33 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 06:44 AM
Response to Reply #2
5. I just googled the life expectancy of Hongkong. It's considerably higher than ours:
http://www.indexmundi.com/hong_kong/life_expectancy_at_birth.html

So the cost of living must also be lower than here.
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greymattermom Donating Member (680 posts) Send PM | Profile | Ignore Sun May-01-11 06:05 AM
Response to Original message
3. take home pay?
How does that compare with US minimum wage take home pay? Are there benefits? Health care? Taxes? I've heard that manufacturing toys in China is becoming expensive. At what wage point in China does it become more profitable and practical to manufacture in North America, given the transportation costs?
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Prometheus Bound Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 07:04 AM
Response to Reply #3
6. Health care is basically free, but private gives faster service. Education mostly free.
Government subsidized housing for almost half the population. The other half pay the highest prices in the world.

No sales tax.
Maximum 15% income tax

Big mac French fries and soft drink about the same price as the minimum wage.
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PotatoChip Donating Member (481 posts) Send PM | Profile | Ignore Sun May-01-11 07:54 AM
Response to Original message
7. This is good news for them and us too
Lets just hope minimum wage standards eventually catch on worldwide. It will help workers everywhere.
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provis99 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 06:02 PM
Response to Original message
8. ANY wage is too high for business.
Their preferred labor model is slavery.
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Jackpine Radical Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 07:21 PM
Response to Reply #8
9. Slaves are too expensive.
What we really need is disposable workers.
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Dont_Bogart_the_Pretzel Donating Member (1000+ posts) Send PM | Profile | Ignore Sun May-01-11 09:19 PM
Response to Original message
10. Gee... what will wallmart do now?
Probaly find another poor country to make it's cheap %^%$^.
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StarsInHerHair Donating Member (1000+ posts) Send PM | Profile | Ignore Mon May-02-11 03:02 AM
Response to Original message
11. the 'business community' is damn stupid! they don't realize with higher wages
they'll very likely get more business? At least it isn't just American businesses that are incredibly short-sighted. I'm beginning to think they cant see beyond the next quarterly statement.
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