The days of cheap or low priced items that are made in China - are over!
Workers want higher pay and benefits.....finally, they are catching up to the West in term of Labor Reform.... Looks bad for Walmart shoppers.
SHANGHAI (AP) -- Factory workers demanding better wages and working conditions are hastening the eventual end of an era of cheap costs that helped make southern coastal China the world's factory floor.
A series of strikes over the past two months have been a rude wakeup call for the many foreign companies that depend on China's low costs to compete overseas, from makers of Christmas trees to manufacturers of gadgets like the iPad.
Where once low-tech factories and scant wages were welcomed in a China eager to escape isolation and poverty, workers are now demanding a bigger share of the profits. The government, meanwhile, is pushing foreign companies to make investments in areas it believes will create greater wealth for China, like high technology.
Last edited by tribeofjudah on Fri Jul 09, 2010 5:38 pm, edited 2 times in total.
Proverbs 27:17 As iron sharpens iron, so one person sharpens another.
Yes, I see the good and bad in all of this. Global markets are getting wise.
I'm not an economics experts but - the reason I like going aboard is to cash in my dollars to get pesos or whatever....
So, yes I see the pros and cons......
Proverbs 27:17 As iron sharpens iron, so one person sharpens another.
