A big pay raise in China signals a big economic shift
Loading...
鈥淭he writing is on the wall for the model of using vast armies of workers paid $100 to $200 a month [in China]. We are at the beginning of a very, very different stage of the growth process.鈥
鈥 Arthur Kroeber, head of the Dragonomics economic consulting firm, commenting on two giant Chinese companies offering big wage increases to their workers this week.