次贷危机出现的原因

Seeing that the industrial outlook has suddenly turned gloomy, a department in Beijing placed the blame on the sub-prime crisis and recession in the United States. But this is negated by the facts: exports of similar items from Vietnam, India, and Pakistan have been increasing. There is no question that the new labor law has triggered a shift in favor of other cheap-labor countries. Lower level industrial investors in China are moving out, especially to places like Vietnam. They will bring their clients along, when the factories now under construction are ready for operation.

　　见到工业的发展一时间转暗，北京某部门认为次贷风暴与美国不景是原因。不对，越南、印度、巴基斯坦等地的输出是上升了。没有疑问，新劳动法触发了工业转移到其它廉价劳力的国家去。好些档次较低的在中国的工业投资者搬家，尤其是搬到越南。有些在外地兴建工厂，可开工时会把客户一并带去。

It is inconceivable to me that Beijing is not aware of what is happening. The authorities must know. So why? Why did they insist on pushing the new labor law as late as March 2008, when the negative effects were becoming apparent to all and sundry? Except for some lawyers and a tiny fraction of the work force, everybody would lose. The governor of Guangdong succinctly stated that any government policy must consider its effects on workers, employers, and the state, and in his view the new labor law would hurt all three groups. He was apparently not welcome in the March Beijing meeting.

　　不能想象北京不知道这些事。他们一定知道。为什么呢？为什么到了二○○八年三月，负面效应那么明显，他们还在坚持新劳动法的执行呢？除了律师与一小撮劳工，所有的人都受损。广东的省长说，政府的政策要考虑到员工、雇主与政府本身的利益，但新劳动法对这三方面都有损害。明显地，北京的三月会议这位省长之见没有受到欢迎。