If you are going to be in international trade, you have to shake free of certain reflexive conditioning. One such conditioned thought pattern is labor is the key, or cheap labor, to int'l trade. If you think so, you are soon befuddled. China is supposed to have limitless cheap labor, but the shoemakers in Dongguan are short labor. Those who do work can demand higher wages, good all around.
But of course, I am keen on just where are those great unemployed masses in China? Are they starting their own businesses? Preferring other work? Joining the military? I wonder.
Thursday, October 28, 2010
Labor Shortages In China
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