3 ms·
When did China enter the global market? Am I the only one to think that this might be a natural cause of an extreme growth in world-wide working population? I t
by choeger 8y ago
When did China enter the global market? Am I the only one to think that this might be a natural cause of an extreme growth in world-wide working population? I think we are already through the worst parts and the dividends are beginning to pay.
- RPLong 8y agoI have thought that for a long time, too. It's natural that, on a global scale, developed-economy wages would appear to "stagnate" if developing-economy wages are increasing while competing for the same jobs.
- simonsarris 8y agoHmm. If the ngram "Chinese manufacturing" started exploding in books in the mid 80's we can assume the phenomenon started exploding a few years before that. https://books.google.com/ngrams/graph?content=Chinese+manufacturing&year_start=1800&year_end=2010&corpus=15&smoothing=3&share=&direct_url=t1%3B%2CChinese%20manufacturing%3B%2Cc0 https://books.google.com/ngrams/graph?content=Chinese+manufa...
- jahewson 8y agoEarly 1970s. Nixon visited China in 1972. Don't forget that China had to industrialize first - it was initially importing equipment from the US. Imports into the US at the time were more likely to come from Japan, Taiwan and Korea. Seems a to be a bit too late to explain the timeline, but it could be a factor - OTOH, given that China's workforce is no longer expanding then your theory would predict that wages will now stop stagnating but that does not seem to be the case?