China’s Jasmine Revolution Is Back: Trucker Strike Hits Shanghai In Protest Over Surging Fuel Costs And Low Wages
by Tyler Durden
And now for the latest does of reality from China, which will no doubt be reported by precisely zero of the mainstream media outlets. According to Stratfor, there has been a trucker strike in the Waigaoqiao zone in Shanghai on the morning of April 20. As the attached video reports: “The protests the morning of April 20 were in one of Shanghai’s busiest container ports and they were the result of rising fuel prices and low wages. In 2008, we saw similar strikes over fuel prices as taxi drivers took to the streets across China, highlighting how inflation can easily translate into social issues. These protests come a week after residents gathered in the Sonjiang district in Shanghai on April 13 in protest of Guangdong officials, also known as urban management officials, were said to have been a pedestrian in a traffic dispute and Shanghai is also the area where we saw the largest gathering during the Jasmine Movement on February 27.” So how much longer will China be able to pretend that its USD-pegged monetary policy, not to mention the Fed’s inflation exporting efforts is contained? And how long until China’s inability to contain its inflation results in a Tiananmen-lite (or not so lite) redux?