Wage Gap With China Continues to Shrink, Which Will Mean More Manufacturing Production in U.S. Mark Perry
1. CNBC --"Slowing wage growth in the United States, coupled with rising wages in China and other emerging markets, could soon make the U.S. more competitive. While wage levels in China are still far below the average wage in the U.S,, better technology, transportation and services in the U.S. could help make the difference for companies, according to Bart van Ark, Chief Economist at The Conference Board.
"There are other factors at play here, from access to services, high technology and innovation, to transportation," he told CNBC Friday. As wages increase in the major cities in China, companies are having to move lower-paid jobs further inside the country, where infrastructure has not yet caught up, to get the same benefits."
2. BEIJING, China — "Factories in China’s manufacturing heartland are feeling the squeeze again, with minimum wages in Guangdong province set to rise by as much as 20 percent on Jan. 1 for the second time in less than a year. And while one Chinese province’s minimum wage might seem like a local issue, the salary question underlines a continuing momentum in China toward building higher-end business and better jobs. In other words, the days of endless, cheap Chinese labor are limited."
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