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Maybe this is simple fact of exhausting of 'Chinese advantage' of lower wages in developing countries, that used to drive jobs abroad? Even about 2007, there we
by anovikov 9y ago
Maybe this is simple fact of exhausting of 'Chinese advantage' of lower wages in developing countries, that used to drive jobs abroad? Even about 2007, there were forecasts that Chinese wages will rise to the level which no longer drives American jobs away - to ~20% of American level, rest is compensated by lower productivity - by about 2015. It was long ago expected to be a turnaround year. So why are everyone surprised?