In China, wages have been rising more rapidly then before. Many are wondering if soon China will no longer be able to produce cheaper goods. It is said that the overall wages in China increased by 20% in the last year. While some believe that China will no longer be such a prominent manufacturer if their wages continue to increase, many argue otherwise. They have found that wages have been increasing because production has become more efficient. Additionally, China's coast has many advantages and already established manufacturing that continues to give them advantages over other countries. This is interesting because it relates to other articles I have read including the increasing textile industry in Cambodia. It is fun to see how China is developing so rapidly.
Kimberly Young
http://www.economist.com/node/21549956
This is good in the sense that China's production is better.
ReplyDeleteMcKenzie Carpenter
I think this article relates to everything that has happened to apple and other major manufacturing companies in China. Hopefully wages can increase while production costs stay low.
ReplyDelete-Weston