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In the sections below we shall discuss the characteristics of employment relations in China and compare its differences to that of Singapore.
Three Old Irons
Before the beginnings of the transition from a centrally planned economy, the system of three “old irons”; the iron rice bowl (guaranteed lifetime employment), the iron chair (selection based on political orientation, absence of punishment for poor business performance), and iron wages (a state –administered, inflexible wage structure and low wage policy). With this system employees were assigned to state-owned enterprises and received guaranteed lifetime employment...
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