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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: jrhana who wrote (20724)	10/26/2004 3:52:11 PM
From: mishedlo	Read Replies (3) of 110194

Indeed, all over the Pearl River Delta, and in the Yangtze River Delta, a number of factories have had to deal with striking workers, asking for increases in pay from the usual RMB600-700/month to a slightly less inhumane RMB 1000/month. That's a hefty 40% increase in some cases! Lets see. If they ALL got an extra 1000/month and they ALL got a 40% increase, lets see what they make. 1000/8 RMB = $125 (to be more than generous) X * .40 = $125 X = $125/.40 X = $312.5 Annual = $312.5 * 12 = $3750 I think it will be quite a long time before they catch up with US worker pay, and quite a long time before a deflationary trend towards outsourcing US workers will end. Bear in mind that the article fails to mention that FEWER people are working those factories do to productivity increases. The affect on US inflation is meaningless IMO. Mish

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