The Decline of Decline
Manufacturing Sector Closes 2013 With a Bang
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  • lukelea

    “Add to this the rising wages for low-skilled workers in countries like China . . .”

    Not to mention things like quality creep, or the danger of getting framed in a bribery scam. There is no rule of law in China. Hard to get around that inconvenient fact, as American companies are learning the hard way.

    I don’t buy the argument that rising wages are the main reason: China’s reserve army of the unemployed is vast. Average wage rates remain a small fraction of what they are here (and, besides, advertised wage rates aren’t the real ones: they lie about everything in China; everybody does it, it’s part of their culture — all the way back to Confucius.)

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