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"Within six years Cai was able to leverage his money and know-how into building a factory of his own, which now employs more than 100 people." That is why wage
by stretchwithme 15y ago
"Within six years Cai was able to leverage his money and know-how into building a factory of his own, which now employs more than 100 people."
That is why wages rise. When workers can compete with their employers, workers have to be paid more.
- colanderman 15y agoI highly doubt Cai was a typical factory worker.
- yaix 15y agoMost likly he was lucky to get a connection with some gov't official, that's the usual way you rise so quickly in China. Without Guanxi you will never get anywhere here. But of course he'll never tell about that part. And the Western journalist doesn't want to hear it, because he wants to advertise "less government" with his story.
- tlear 15y agoEntrepreneurs in any country are never typical, he played by local rules and succeeded at least for now good for him. I also suspect that price of failure there is significantly higher then here.
- stretchwithme 15y agoIt doesn't matter if he is. What matters is that employees can compete with employers. Not all employees must be ready to become employers for there to be competition for employees.