«One of Donald Trump's frequent claims is that China has been "stealing" US manufacturing jobs, with low wages and poor conditions giving Chinese firms an unfair advantage. Recent analysis by The Economist intelligence Unit shows that, in fact, the days of Chinese wages being low are long gone. A shrinking workforce and fast productivity growth has meant that average monthly wages in China are now higher than in almost every country in Latin America and surpass those in a number of EU countries as well. Anyone who talks to people with operations in China won't be surprised: rapidly rising wages are a common business challenge.»
Simon Baptist, Chief Economist (The Economist)
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