China’s embrace of higher wages to help bolster consumer spending has sparked a jump in factories along the east-coast export corridor bringing in undocumented and lower-paid workers from Myanmar and Vietnam.Bloomberg News
China Factories Turn to Undocumented Labor as Local Wages Jump
(h/t Lambert Strether at Naked Capitalism)
Fairly predictable that rising wages in China would drive immigration. Not sure it was part of the five year plan. :) Companies apparently find it easier to import cheap labor than to innovate and improve productivity.
ReplyDeleteSankowski at MR had a well reasoned analysis about the underlying process, I guess everybody probably already reads their stuff, but if not, it is worth having a gander.