Wednesday, Jun 09, 2010
As China’s Wages Rise, Export Prices Could Follow
NYTimes: As China’s Wages Rise, Export Prices Could Follow
See if we are going to get CPI inflation and asset deflation with this one whcih reverses the asset price inflation and the CPI disinflation we got for the last 15 years.
Posted by easybetman @ 10:30 AM (600 views) Add Comment
3 Comments
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1. mark said...
Africa suddenly looks a good place for cheap labour now.
2. easybetman said...
China was for cheap labour, but now it is an industrial power. It has stable power supply, transport network, business process controls, political stability, financial network etc. Africa don't. Some stuff can of course go to Africa etc, but some of these stuffs are too complex to be moved to Africa today.
3. icarus said...
"Big manufacturers are moving to raise salaries because they are desperate to attract new workers at a time when many coastal factory cities are struggling with labor shortages".
Compare this with Foxconn's response when it was asked about its factory (in a coastal factory city), where long working hours, low wages and pressure of work have led to several suicides, causing the company to install safety nets around factory buildings so that people couldn't jump to their deaths.. "In spite of the grim working conditions, Foxconn continues to attract thousands of applicants to work on its factory as a company representative told the China Daily that about 8000 people apply every day to secure work on their facility".
Google "Apple assembler in China faces numerous workers' suicide (sic) amidst grim working conditions"