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If you look at average wages in China, I think they have a long way to go to mop up labour slack. The problem is it's reaching a point where it's becoming more
by kokey 12y ago
If you look at average wages in China, I think they have a long way to go to mop up labour slack. The problem is it's reaching a point where it's becoming more complex to mop up the rest by growing their more productive and experienced workforce, which is the new, growing, more powerful middle class. This can work out well, or not, and will impact us greatly either way.
- crdoconnor 12y ago>If you look at average wages in China, I think they have a long way to go to mop up labour slack. Average wages in the Pearl River Delta don't seem to reflect this. Skilled wages are skyrocketing and even unskilled wages have upward pressure on them. The seemingly endless flow of cheap migrant labor is drying up.
- greenrd 12y agoIsn't this because China has had internal migration controls for over 70 years, which are unheard of outside communist countries? Actually I think it's unheard of outside China.
- simonh 12y agoNot really. The controlls are there to protect municipalities from having obligations to provide welfare and services to migrants. It doesn't actually prevent the migrants from travelling for work.