In early November, we said that far from the traditional risk factors affecting China's economy, including the slowing economy, the stock market (and now housing 2.0) bubble, the soaring NPLs, and record debt, the most under-reported risk facing China is the "breakdown in recent "agreeable" labor conditions, wage cuts and rising unemployment, leading to labor strikes and in some cases, violence."

Some recent articles probing the severity of China's collapsing labor market were the following:

The "Hard-Landing" Has Arrived: Chinese Coal Company Fires 100,000

Thousands Of Angry Unpaid Chinese Workers Protest Shocking Bankruptcy Of Major Telecom Supplier.

600 Hungry, Angry Chinese Workers "Sleep On The Street" After CEO Disappears With Their Wages

A clear indication of this was the exponential rise in labor strikes on the mainland as tracked by the China Labor Bulletin