Summer 2019 POL 241 Chap 11- Steven Rattner, “Will China Stumble, Don’t Bet on It”


Elayne Guzman

Chap 11- Steven Rattner, “Will China Stumble, Don’t Bet on It”

Quote:
“…That illustrate China’s great strength: its ability to relentlessly grind down costs by combining high labor efficiency with wages that remain extraordinary low”

Meaning/Chosen:
   China labor market remains tight and unemployment low and yet, just like in the US, Europe and elsewhere- wages growth is not reflecting that strength. China labor cost is a key driver in production, an area China is well known to the world competitive advantage. However, China’s economy growth has reduced this luxury as the manufacturing workforce has experience yearly rising wages in China. But even with large increased in China labor costs, wage rate in China remains relatively low; the minimum monthly wage is around $280 a quarter of that in American. China wage increases are predominantly in coastal regions whereas inlands areas see a much lower wage growth. For this reason factories are relocating inland to continue to benefit from lower China labor cost.

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