Monopolies behind price-hike game
As if the hike in prices of essentials such as food grains and vegetables, and raising of charges for water and electricity supply was not enough trouble for the people, the Ministry of Railways is now increasing its ticket prices. This will hurt the people no end, says an article in the China Youth Daily. Excerpts:
Official studies may disagree, but the fact is that the cost of living has gone up sharply. The rich can enjoy driving their cars without paying any attention to rising oil prices, but common folks have no option but to change their dietary habits in order to cut costs.
Economists have rightly blamed the US government for printing and spreading too many of its dollar notes around the world, and thus causing inflation. But actually monopolies are playing a greater role in the price-rise game. In our country, where market economy has not yet fully developed, increase in prices, rather than inflation in strict economic terms, should be used to describe the economy.
The monopoly enjoyed by enterprises, including State-owned, in some essential sectors is the reason why prices are shooting up. The rise in prices of some commodities has had a spiralling effect on other goods, and thus increased the overall cost of living.
In the name of the country, the State and private monopolies have dominated the essential goods market for many years, without ever benefiting the people. In a sense, monopoly has almost become a symbol of economic oppression. So all we can do now is hope that they stop playing their price-hike game and bring common people some relief.
(China Daily 12/17/2009 page9)
