Obviously things aren't standing still in China. Unions there have seen steady pay increases. All good for China as it ramps up domestic demand. Watch out folks; prices are on the rise at Wallmart.
By Olivia Chung
HONG KONG - As workers in the United States and Europe face layoffs and growing unemployment lines, their Chinese counterparts are demanding and getting higher pay and better conditions as they seek a larger slice of the country's growing prosperity.
Putting more cash in pay packets also supports the government's twin goals of reducing threats to social stability and rebalancing the export-dependent economy by boosting domestic consumption.
Asia Times Online :: China News, China Business News, Taiwan and Hong Kong News and Business.
No comments:
Post a Comment