fish on said:The point is how low can you go?
China is setting the level low and for others to compete they must go lower by wages ,benefits or working conditions! IE S.E Asia etc.
Asia/SE Asia is a continent made up of agricultural countries so "fresh" food here is a lot cheaper than processed food. Real Estate is cheaper in most of these countries. Clothing is cheaper because the raw materials are grown here.
Basic essentials here are cheaper thus the lower wages. If not for the cost of fuel to manufacture and transport these goods then other continents too can probably enjoy the lower prices. Oh I forgot, the other continent's local importer also has to mark-up to maintain a higher standard of living.
Somehow, labour in the 1st World countries are so top-heavy. Like I wrote in my earlier post. If the unemployed ranks (government subsidized or otherwise) took the jobs that are made available to the illegal immigrants there then the government has a lot less to worry about and spend for. Spending that can otherwise be used on essential stuff that can help the industrial sector. You know, spending on performing assets and not on non-performing assets can only lead to progress.
Last edited: