Increase pay in China Chinese whereas PAP suppressed wages, colonized most industries disguised as GLC to stagnant the progress of Singapore.
BEIJING -- Rising wages may have cut the cost advantage of China's products, but a group of Standard Chartered economists on Friday predicted even higher productivity to come.
Wage rises and labor shortages are evident in the Pearl River Delta in South China, according to a report released by the bank on Friday. The country's manufacturing base accounts for 27 percent of foreign trade.
Standard Chartered surveyed nearly 300 manufacturers in the region in February and March and 85 percent said the labor shortage is not getting better. They expect wages to rise by around than 8.4 percent this year.
Narrowing profit margins, financing difficulties, uncertainties over future orders and an increasingly volatile yuan are all threatening these companies' survival, but instead of sounding alarms Standard Chartered said the manufacturing sector is changing for the better: "The dwindling labor supply and other challenges could be seen as a catalyst for productivity gains as China moves up the manufacturing chain."
http://www.chinadaily.com.cn/business/2015-05/23/content_20798263.htm
BEIJING -- Rising wages may have cut the cost advantage of China's products, but a group of Standard Chartered economists on Friday predicted even higher productivity to come.
Wage rises and labor shortages are evident in the Pearl River Delta in South China, according to a report released by the bank on Friday. The country's manufacturing base accounts for 27 percent of foreign trade.
Standard Chartered surveyed nearly 300 manufacturers in the region in February and March and 85 percent said the labor shortage is not getting better. They expect wages to rise by around than 8.4 percent this year.
Narrowing profit margins, financing difficulties, uncertainties over future orders and an increasingly volatile yuan are all threatening these companies' survival, but instead of sounding alarms Standard Chartered said the manufacturing sector is changing for the better: "The dwindling labor supply and other challenges could be seen as a catalyst for productivity gains as China moves up the manufacturing chain."
http://www.chinadaily.com.cn/business/2015-05/23/content_20798263.htm
