In the News
China in Transition: Call for end to the iron rice bowl
20th December 2016
The Chinese economy has been talking about reform, and reform of the working practices of China's state-owned enterprises SOEs is an important part of this.
According to Reuters, the Chinese government has ordered firms to reduce their 'social function' - in short, get rid of the 'iron rice bowl' that provided housing, welfare and education to their employees.
This article looks at why this is important, and, equally importantly, why this might prove to be harder than the government might wish.
When the iron rice bowl in an SOE that pays miners $60/m extends to a golf course retirement home for execs https://t.co/F8h19Tc6I1
— Primrose Riordan (@primroseriordan) December 18, 2016
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