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lewis turning point: https://en.wikipedia.org/wiki/Lewis_turning_point https://en.wikipedia.org/wiki/Lewis_turning_point The inflation has been offshored. Chi
by gzu 7y ago
lewis turning point:
https://en.wikipedia.org/wiki/Lewis_turning_point https://en.wikipedia.org/wiki/Lewis_turning_point
The inflation has been offshored. China's rural population has been lifted out of poverty. What happens to the world economy when china runs out of cheap labor?
- HenryKissinger 7y agoSome countries will always have cheaper labor than others.
- elsewhen 7y agoThere are still many other countries with cheap labor (Bangladesh, Pakistan, lots of Africa etc). It will still take a few more decades for the majority of the whole world to get out of poverty (assuming we don’t go off the rails).