China: Thousands of Truck Drivers Riot in Shanghai Over Fuel Prices

April 21st, 2011

ZeroHedge is right:

China is now between a rock and a hard place: will it continue happily importing Bernanke’s inflation exports or finally retaliate. Unfortunately for its economy, the appropriately called “nuclear option” of revaluation, will leave it export economy flailing. So the real question: is China ready to migrate from an export-led to a consumer-led model. Alas, the answer is a resounding no.

Via: Reuters:

A two-day strike over rising fuel prices turned violent in Shanghai on Thursday as thousands of truck drivers clashed with police, drivers said, in the latest example of simmering discontent over inflation.

About 2,000 truck drivers battled baton-wielding police at an intersection near Waigaoqiao port, Shanghai’s biggest, two drivers who were at the protest told Reuters.

Research Credit: klaos

Posted in Dictatorship, Economy, Energy | Top Of Page

One Response to “China: Thousands of Truck Drivers Riot in Shanghai Over Fuel Prices”

  1. cgroove69 says:
    April 22, 2011 at 1:44 pm

    FYI, more at Zerohedge today: First Person Account From Inside The China Protests

    http://www.zerohedge.com/article/first-person-account-inside-china-protests

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