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The U.S. economy is teetering into a recession. Global warming is also a major concern to many Americans. Before making promises to voters, presidential candidates should learn from the Chinese experience.
Forty years ago, China symbolized the Third World at a time when the United States was the most prosperous country on Earth. Since then, the United States has become the greatest debtor nation in human history, while China now holds the largest foreign currency reserves in the world. What have the Chinese done right? Many factors have contributed to China's meteoric rise and America's rapid decline. But, the population issue in China cannot be ignored.
China even with a population of 1.3 billion is facing a labor shortage. Just like here in the United States, many Chinese will not work certain jobs and they have increased their minimum wage by more than 30% in the last few years in an effort to attract more workers.
That increase in wages will translate to higher production costs which will affect the final price of goods negatively
SOLUTION? The only way China will be able to continue to produce cheap products will be by hiring workers from neighboring countries willing to work for less. I guarantee you, China will be creating an immigration plan in the next 5 years, since there is no shortage of workers in Vietnam and Indonesia willing to work for less.
That increase in wages will translate to higher production costs which will affect the final price of goods negatively
Wah. Deal with it. I will pay any price necessary to preserve the Amercian way of life for me, my children, and generations to come. Anyone willing to destroy America and turn it into a third world country to save a few dollars shopping should just move to Mexico and join the third world now, leave America to the Americans.
China even with a population of 1.3 billion is facing a labor shortage. Just like here in the United States, many Chinese will not work certain jobs and they have increased their minimum wage by more than 30% in the last few years in an effort to attract more workers.
China won't be importing workers, and they certainly don't have a labor shortage. They have such a huge abundance of extremely cheap labor the Chinese go out of their way to construct many of their products in the most labor intensive way possible. Simply because that's the cheapest way for them to do it.
They frequently work employees 60 to 70 hours a week with only one day off if the employee is lucky. And benefits are almost nonexistent. The Chinese can get away with this because of the huge abundance of labor they have. If someone doesn't like their job or working conditions, the factory can and will replace the worker immediately. In fact, things are so bad, if a worker loses an arm or other limb in a work place accident, the employee has no recourse. No workers comp, no pension. Just a tin cup to beg with after he's fired because he can't do his job anymore. And there's no appeal.
If at some point they do begin to incur a labor shortage they'll just modernize to a greater degree. But that certainly isn't going to happen for at least a few generations. If at all.
China won't be importing workers, and they certainly don't have a labor shortage. They have such a huge abundance of extremely cheap labor the Chinese go out of their way to construct many of their products in the most labor intensive way possible. Simply because that's the cheapest way for them to do it.
China is already facing a labor shortage. It is not like I made this up for attention. This has been discussed for the last couple years or so in economic circles. Wall Street Journal article that deals with the problem if you care to read it:
China Labor Watch (http://www.chinalaborwatch.org/en/web/article.php?article_id=50050 - broken link)
China is already facing a labor shortage. It is not like I made this up for attention. This has been discussed for the last couple years or so in economic circles. Wall Street Journal article that deals with the problem if you care to read it:
China Labor Watch (http://www.chinalaborwatch.org/en/web/article.php?article_id=50050 - broken link)
That is a beautiful thing: maybe prices for Chinese made goods will jump enough to make American (and Mexican) made products competitive again.
If in fact there is a worker shortage in China; one would certainly expect its workforce to be treated with much more dignity and respect, rather than as expendable chattel.
If in fact there is a worker shortage in China; one would certainly expect its workforce to be treated with much more dignity and respect, rather than as expendable chattel.
Supply and demand tends to do that if no legislation is in place to protect the worker bees.
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