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China’s Cheap Labour Capitalism and its Reality – A Detailed Analysis on the Purchasing Power Parity & Welfare of Workers in Communist China

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China’s Cheap Labour Capitalism and its Reality – A Detailed Analysis on the Purchasing Power Parity & Welfare of Workers in Communist China


Paulman Karippai



Paulman Karippai "China’s Cheap Labour Capitalism and its Reality – A Detailed Analysis on the Purchasing Power Parity & Welfare of Workers in Communist China" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-3, April 2021, pp.314-320, URL: https://www.ijtsrd.com/papers/ijtsrd38785.pdf

The Article "China’s Cheap Labour Capitalism and its Reality – A Detailed Analysis on the Purchasing Power Parity & Welfare of workers in Communist China". is a detailed analysis of socio-economic system in china and the impact of communist party operating on crony capitalism from the perspective of the labour force of China. The article covers a detailed analysis of economic aspects of Purchasing power parity and currency devaluation in China. The plight of common worker with low wages and "stay-at home children" are studied in detail and have identified the economic and social policies implemented by the state to keep the workers from aspiring to a higher tier of economic hierarchy by means of strict control measures and state controlled Trade & Labour Unions. Relevant references and studies have been cited in arriving at the inference. Long since the establishment of Silk route has it been debated on the extensive potential of wealth and resources that China possess, which often led many historians to believe a new world order dominated by China would come into existence (Chan G, 2012). It is often believed that China as a communist state, advocates for better equality of opportunity and upholds labourers and workers interests at its best. Now that China is set to surpass the United States and become the world leader in overall GDP, does China really hold the key to being a world super power in terms of overall living quality, peace and prosperity that the current world super powers look forward to bestow upon their citizens?.

Bureaucratic Capitalism, Communism, Workers Welfare, Globalism, Workers rights, Purchasing Power Parity, Currency Devaluation, Industrial revolution, Class Antagonism


IJTSRD38785
Volume-5 | Issue-3, April 2021
314-320
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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