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This is my hypothesis as well. It will be great if someone can juxtapose this graph with growth in China and India's GDP, growth in middle class income in these
by dmode 9y ago
This is my hypothesis as well. It will be great if someone can juxtapose this graph with growth in China and India's GDP, growth in middle class income in these two countries, and growth in manufacturing and services output in China and India (India more so starting late nineties).
- notfromhere 9y agoIt's probably related in that markets beforehand were more national than international. Nowadays, the national barriers are pretty porous, so lower-skilled workers have to compete with labor at a fraction of a cost of theirs.