Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: I_C_Deadpeople who wrote (5245)	4/29/2004 12:08:34 PM
From: Wyätt Gwyön	Read Replies (1) of 116555

i am aware of all the examples you bring up, and i agree with you. i am very cynical about the "great United States". however, in the aggregate, i don't think one can really compare working conditions in the US to those in the developing world. if they were the same, then costs would be the same and we wouldn't be sending all our good jobs overseas. but as it stands, a huge labor arbitrage is being implemented between the US and Chindia due to the 10:1 labor-price advantage. a good portion of the advantage has to do with laxer working standards, which American companies enjoy exploiting. read some of the exposes in NY Times, for example, on working conditions in Chinese factories. very tough on the workers, i am afraid.

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