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

The Article China's Cheap Labour Capitalism and its Reality – A Detailed Analysis on the Purchasing Power Parity and 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 and 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 . 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, URL: https://www.ijtsrd.com/papers/ijtsrd38785.pdf Paper URL: https://www.ijtsrd.com/economics/international-economics/38785/china's-cheap-labour-capitalism-and-its-reality-–-a-detailed-analysis-on-the-purchasing-power-parity-and-welfare-of-workers-in-communist-china/paulman-karippai