Wednesday, February 24, 2010

Greeks are not like Chinese

Greece is seeing civil unrest in response to austerity measures:

Addressing a sea of protesters from a lectern bedecked with a banner reading, “People and their needs above the markets,” the head of main labor union encouraged public resistance to the government’s austerity measures. “We refuse to pay the price for a crisis that we didn’t create,” the leader, Yiannis Panagopoulos, said.

In China:

The global financial crisis left 20 million Chinese migrant laborers unemployed and more than 7 million college graduates seeking work by March last year. In February 2009, a clash between police and about 1,000 protesting workers from a textile factory in Sichuan province injured six demonstrators, rights group Chinese Human Rights Defenders reported.

Hardly a ripple... so far. We know how China historically handles these things, but the question remains how Germany and the EU will manage Greece.

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