Econ IA Portfolio

Econ IA Portfolio - Standard Level Economics Internal...

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Standard Level Economics Internal Assessment Portfolio Coversheet Name of Candidate: Chong Tsz Yin Candidate Number: 002634- 008 Date Title of Article Source of Article Date of Article Section of Syllabus Word Count May 10, 2010 Unions dig in for $33 amid great pay divide The Standard May 4, 2010 Sections 2.1, 2.2, 3.5 749 Jul. 25, 2010 Inflation at 10.55%, rate increase looms The Economic Times Jul. 15, 2010 Sections 3.3, 3.4, 3.5 749 Nov. 7, 2010 U.S. to Impose Tariff on Tires From China The Washington Post Sep. 12, 2009 Section 4.2 Dec. 17, 2010 The Horror Show The New York Times Aug. 9, 2010 Sections 3.3, 3.5
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Commentary Coversheet Commentary Number 1 Title of Extract Unions dig in for $33 amid great pay divide Source of Extract (URL) The Standard (http://www.thestandard.com.hk/news_detail.asp? ) Date of Extract May 4, 2010 Word Count 749 Date of Commentary May 10, 2010 Section of Syllabus Sections 2.1, 2.2, 3.5 Name of Candidate Chong Tsz Yin Candidate Number 002634-008
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IB Economics Standard Level Portfolio: Commentary 1 Article 1 Unions dig in for $33 amid great pay divide By Beatrice Siu, The Standard on May 04, 2010 The public consultation on a minimum wage concluded yesterday with workers and bosses no nearer to agreement on a fair level. More than 500 submissions were received by the Provisional Minimum Wage Commission from individuals, organizations and groups. Many chose to go with either the HK$33 an hour demanded by the unions or the HK$24 suggested by the Liberal Party and the catering industry, according to a source. Standing firm on its demand for the higher amount, the Hong Kong Federation of Trade Unions chose the last day of consultations to refute the catering sector's claim that setting the minimum wage above HK$24 an hour is untenable. The Eating Establishment Employees General Union and the FTU said a survey of four traditional Chinese restaurants and two fast-food restaurants showed that 35 percent of expenditure went on food and raw materials, 29 percent on wages and 15 percent on rent. The two groups said even if salaries are increased 10 percent across the board, the overall additional cost to the industry will be a mere 2.91 percent. FTU lawmaker Ip Wai-ming said a wage level of HK$33 an hour will lead to 32 percent of employees having a pay rise - with 24 percent of those being workers from the lower ranks. "Some catering workers are already earning HK$22 to HK$24. If we accept this lower figure, how much will the increment be?" Ip asked. "The level is not enough to support their basic needs. So we think there is no room for compromise." Catering sector lawmaker and chairman of the Hong Kong Catering Industry Association Tommy Cheung Yu-yan said he would not comment on the survey because he had not read the report. However Cheung said it is "hard to believe" that operational costs will increase by only 1
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Econ IA Portfolio - Standard Level Economics Internal...

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