If that was the case they would not be importing workers from Vietnam as described in the video. Instead, the blame was put on rising expectations of Chinese labor. They want higher pay, more benefits, easier workload, etc. The kinds of things labor starts to demand as a country transitions from low to middle income. However factories originally opened up in China precisely because it was low pay, low benefit, high workload, etc. When these demands get too expensive the factories pack up and move to other low income countries such as Vietnam. Or hire cheaper Vietnamese immigrants. Still, China is not just closing cheap labor factories it is also opening up new factories that are higher up the food chain. It's a transition South Korea went through several decades back. Now it's China's turn to move up the value chain.onlooker wrote:Yes, but I think what they have exhausted is their ability to continue to grow and find jobs for all these new workers. Lot of peaks are converging just now in the world
kublikhan wrote:If that was the case they would not be importing workers from Vietnam as described in the video. Instead, the blame was put on rising expectations of Chinese labor. They want higher pay, more benefits, easier workload, etc. The kinds of things labor starts to demand as a country transitions from low to middle income. However factories originally opened up in China precisely because it was low pay, low benefit, high workload, etc. When these demands get too expensive the factories pack up and move to other low income countries such as Vietnam. Or hire cheaper Vietnamese immigrants. Still, China is not just closing cheap labor factories it is also opening up new factories that are higher up the food chain. It's a transition South Korea went through several decades back. Now it's China's turn to move up the value chain.onlooker wrote:Yes, but I think what they have exhausted is their ability to continue to grow and find jobs for all these new workers. Lot of peaks are converging just now in the world
dolanbaker wrote:big business is looking to the next cheaper country down the line, for China to prevent this they need to import people to reduce wages again.
Sounds crazy, but this is how the elites think when they look at increasing their money mountains.
ROCKMAN wrote:Last week saw that the Chinese economy grew at 6.7%. What part of 6.7% amounts to "suffering"? LOL.
ROCKMAN wrote:Last week saw that the Chinese economy grew at 6.7%. What part of 6.7% amounts to "suffering"? Perhaps President Trump will pull a miracle out of his ass and make the USA suffer with a 3-fold increase in growth. LOL.
kublikhan wrote:If that was the case they would not be importing workers from Vietnam as described in the video. ... Still, China is not just closing cheap labor factories it is also opening up new factories that are higher up the food chain. It's a transition South Korea went through several decades back. Now it's China's turn to move up the value chain.onlooker wrote:Yes, but I think what they have exhausted is their ability to continue to grow and find jobs for all these new workers. Lot of peaks are converging just now in the world
phaster wrote:ROCKMAN wrote:Last week saw that the Chinese economy grew at 6.7%. What part of 6.7% amounts to "suffering"? Perhaps President Trump will pull a miracle out of his ass and make the USA suffer with a 3-fold increase in growth. LOL.
FWIW chinese economic figures are reported to be "unreliable"
http://www.telegraph.co.uk/finance/econ ... mbers.html
https://www.nytimes.com/2016/01/27/busi ... .html?_r=0
http://www.bbc.com/news/business-35341869
http://www.economist.com/blogs/freeexch ... se-economy
http://origin-www.bloombergview.com/art ... we-thought
in other words think of it the "economic" numbers akin to self reported "oil reserves" (i.e. to be taken w/ a grain of salt)
You are projecting here Pstarr. Every single time I argue facts you run away. You did it with Moore's law. You did it with pipeline construction. And it's happening again in the ETP thread.pstarr wrote:It's what they do. It's their modus operandi. Adam, Kub and outcaste (like Mos6502, reservegrowth, shortonsense, ennui etc in the past) attack a hypothetical 'doomer' instead of successfully arguing facts. They always hit . . . and run when you destroy their arguments.
onlooker wrote:Outcast, your pegging some of us inaccurately.
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