I'll address two points here: 1) No minimum wage would lead to higher employment. Nice assertion, care to back it with any data? Any actual experiment? 2) Ch

I'll address two points here: 1) No minimum wage would lead to higher employment. Nice assertion, care to back it with any data? Any actual experiment? 2) Chinese wages increased. Yes, however that is not related to minimum wage. This is related to creating jobs with desirable outputs, for which people will pay more, and as the capital wants to exploit this demand, they will hire workers. Perhaps even pay them a bit more, but typically not even close to equilibrium price of the labor - they have to make profit, and preferably a lot of it, beyond even covering the initial investment. That because anyone not maximizing profit is thought to be less competitive for some reason. (Actually they might be just as competitive if not more but the exploiter will have more advertising funds or can hire more people, or can engage in price dumping. An unfair advantage not related to efficiency or quality. There may be other unfair advantages involved.) Profit is a bait that may bring investment from some agents, you could have investment even without profit. So can productivity boost. Somehow I'm not seeing capitalists paying the windfalls of production to workers, which would be required for equilibrium analysis to work.