יום שני, 31 במאי 2010

china shifts away from cheap labour

China shifts away from cheap labour, both by moves initiated from above, and by changes in the culture, perceptions and expectations of the new generation. a fascinating article.

This trend has been predicted in the past by Chinese institutions. Are we at a "Lewisian turning point"  ? (Nobel laureate Arthur Lewis prediction that a developing country's industrial wages would begin to rise quickly at the point when the supply of surplus labor from the countryside tapers off)

If so, would past complaints of the costs of China's cheap labor be soon remembered as the advantages of a lost golden age ?

Predictions is anyone's game, but one thing is sure: we are living in interesting times !


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