4 ms·
Sure, Chinese wages grow a lot faster than Western ones. At the same time, Western wages remain quite a bit higher than Chinese ones. Dropping wages in the Wes
by rocqua 7y ago
Sure, Chinese wages grow a lot faster than Western ones.
At the same time, Western wages remain quite a bit higher than Chinese ones.
Dropping wages in the West would bring a lot of extra work, at the same time, that work would be paying less. The core thing here is that cost of living, and hence a living wage in the West is higher than in e.g. China. Due to globalization, companies can now arbitrage that difference.