State: MI
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How can many economists' state that workers' in China earn fifty cents an hour? Aren't they forgetting to prorate or include the housing and medical insurance? Doesn't the Chinese Worker receive anything free from their government?
Asked by: Don Jensen from Allegan, MI. Received 2 Votes.
Listen to: U.S. Rep. Randy Forbes (R-VA)
They really misrepresent what China’s economic base is if they think it’s all cheap labor. China has a really high-tech economic force in many areas. They do a great job on looking at productivity. If you look at what they do for shipbuilding for example, it’s not about cheap labor, it’s about getting good productivity out of the people that they have. So I think we misread China when we look and think they’re only making 50 cents an hour for some of the things that they’re producing.
Answered on Oct 14th, 2009 More
