Cheap labor has made the country into a source of deflation for global consumers, but as Chinese wages go up, consumers in Wall-Mart and elsewhere better prepare for higher prices, tells the author of The End of Cheap China Shaun Rein tells the BBC in an interview.
Minimum wages in China went up with 22 percent on average and moving production to countries like Vietnam and Indonesia works only for a smaller number of companies. So, for the first time in decades, China causes consumer prices world wide to rise, in stead of going down. Consumers should better get used to that new feature, Shaun Rein explains from the BBC studios in Shanghai.
Here you can listen to the whole Shaun Rein interview here.
- A government-organized slowdown – Shaun Rein (chinaspeakersbureau.info)
- Apple could have done much better in China – Shaun Rein (chinaspeakersbureau.info)
- Why China’s middle class does not exist – Shaun Rein (chinaherald.net)
- Three advises when you want to invest in China – Shaun Rein (chinaspeakersbureau.info)
- Pollution, food safety haunt China consumers – Shaun Rein (chinaspeakersbureau.info)