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Hard to honestly say if China is low wage. On one hand, their wages have risen as the work force has shrunk now for a few years and tasks are being outsourced t
by mensetmanusman 1y ago
Hard to honestly say if China is low wage. On one hand, their wages have risen as the work force has shrunk now for a few years and tasks are being outsourced to other countries. On the other hand, their currency is pegged meaning that the earning power of the workers should be much higher so that they can afford the things they are making and transition to a consumer driven economy.
- datavirtue 1y agoThey are very much devaluing their currency. This is all the rage and I expect a currency devaluation race as the US tries to deal with crushing government liabilities.
- nradov 1y agoIt's not just China and the USA. Pretty much all countries want to devalue their currency to improve their balance of trade in a race to the bottom. Logically not everyone can win the race.
- mensetmanusman 1y agoSomeone needs to figure out the best hack for what to do with high value currency.
- chowchowchow 1y agoIsn’t it to sell home currency denominated debt…?