In Cambodia the price of fuel has been continuously increasing, which has resulted in an increase in wages. They are expecting the the minimum wage will continue to increase by about 40%. Also they are experiencing inflation in the country. This was interesting for me to read because it is valuable to learn how oil, wages and inflation are connected. Also it is good to understand how they affect countries.
Kimberly Young
http://www.businessweek.com/news/2012-04-03/thai-inflation-quickens-first-time-in-five-months-on-oil
Interesting how dead right you are about the deep connection between wages, gas prices, and inflation. GDP is also a factor impacted by these changes in a Country's markets and monetary system. So interesting how the countries act to defend themselves and prevent things from happening or try to counter balance the effects these changes have.
ReplyDeleteAshleigh Hefner
Im just interested in learning what the wage was before. 40% is a huge increase!
ReplyDelete