4 years ago
in English · 4,638 Views
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China Isn't A 'Cheap Labor' Country Anymore
Increases in labor cost now exceed the rate of economic growth in China. It looks like that's a long term trend. As China becomes richer, its demand for goods will increase and wages will increase. Manufacturing now handled in China will shift to places like Bangladesh (which is now a textile economy), making Bangladesh richer in turn.
robertr clipped in 2 collections
I've been reading about this, it's an interesting phenomenon. Here's a pretty insightful article from The Atlantic to illustrate it: http://www.theatlantic.com/magazine/archive/2012/12/the-insourcing-boom/309166/
4 years ago·Reply
wow, thanks for sharing! you should put up other cool articles when you come across them
4 years ago·Reply