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Transcript of Cheap Labor
unethical to pay cheap wages
companies doing those workers a favor U.S. companies that move factories to undeveloped nations barely pay employees enough to live on. Introduction What is Cheap labor?
Few or no benefits
Hazardous working conditions
Worst living standards
Long work time Introduction China’s population is over 1.3billion
almost four times larger than the U.S. populations
Lack of job opportunities
Cheap and highly skilled labor force become great competitive advantage
Cheap and abundant Chinese labor
cheap land use
Rural populations are flocking into cities for seeking
Cheap credit, land, utilities
Developed countries are shifting factories to low-cost countries The Background of Cheap Labor Average hourly wage, developed economies vs. China China's Competitive Edge Average hourly wage, neighboring low-cost countries vs. China China's Competitive Edge Average monthly wages for manufacturing in 2009 Child Labor Higher Education and more useful practical skills
Developing core technology and well-known brands
Reinvest in people and advanced technology Solutions China's Cheap Labor Era is Ending Shifting in manufacturing again In the past decade,real wages for manufacturing workers in China have grown nearly 12% per year Perhaps the US and other developed countries will soon stop picking at 'Made in China' but instead complaining 'Made in Vietnam/Cambodia,' 2 4 5 Countries like Cambodia, Laos, India and Vietnam are picking up some of the cheapest labor manufacturing left by the Chinese.