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The report says wages of the average Chinese worker are growing at 17 percent annually, while in the U.S. they are growing at 3 percent. And among managers and skilled workers, the growth of wages in China is more than 100 percent annually, compared with 3.7 percent for the same group in the U.S.
“The Chinese pay scale is still far less than in the U.S., but that gap is closing very fast,” Kuehl said...
Isn't this good news for America in the coming future? With China loosing it's advantage as a low wage country then maybe more manufacturing jobs will stay in America.
Isn't this good news for America in the coming future? With China loosing it's advantage as a low wage country then maybe more manufacturing jobs will stay in America.
The equilibrium will be far less than the American minimum wage.
Isn't this good news for America in the coming future? With China loosing it's advantage as a low wage country then maybe more manufacturing jobs will stay in America.
Interesting article related to this. It points out how jobs are returning to America but it also highlights the changes that unions will need to make to keep these jobs here.
Interesting article related to this. It points out how jobs are returning to America but it also highlights the changes that unions will need to make to keep these jobs here.
The real question is, are Americans willing to work in the same slave labor conditions as chinese labor? I know rich conservatives are frothing at the mouth at this, but I really wonder if conservative middle-america flyover country joe the plumber types, who will actually be the ones working these jobs, really want this?
They certainly vote that way, but when it comes down to working 16 hours a day for $2/hour we'll see if their attitude changes.
Isn't this good news for America in the coming future? With China loosing it's advantage as a low wage country then maybe more manufacturing jobs will stay in America.
Manufacturing jobs will just shift to the next low wage country - not come back to America. Increased prosperity in South Korea is already causing a shift to lower cost/less developed Asian countries.
Isn't this good news for America in the coming future? With China loosing it's advantage as a low wage country then maybe more manufacturing jobs will stay in America.
They pay $100 a month and may go to $117 and that is going to have China lose an advantage how again?
China's wage increases may not yet be comparable to America's but the point is that China's increased wages are changing the advantages that China had as far as attracting investors looking for low wage workers.
China's increase in wages is also increasing the prices of goods coming from China futher helping the possiblity of more U.S manufacturing coming back to the U.S.
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