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Essay / Research Paper Abstract
This 4 page paper considers the problem of rising wages in China, looking at the causes and potential impact of the problem in determining the way that organizations may need to deal with employees’ future to create value in other ways. The bibliography cites 1 source.
Page Count:
4 pages (~225 words per page)
File: TS14_TEchinawage.rtf
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Unformatted sample text from the term paper:
shortage of employees with specific skills. The result of any market where there is an excess of demand over supply will be rising costs, in this case the commodity is
labor. Firms are reporting declining profits as a result of wage inflation in excess of 10% per annum. This is likely to have a long term impact of increasing the
prices that goods are sold at, as the wages are increasing at a rate that will convert low profits into looses over time unless there is an increase in revenues
to counteract the costs. However with much of the trade taking place between china and other countries, including the provision of outsourcing, especially within industries such as the textile industry,
is based on the lower cost of manufactured goods in China. This may lead to a problem, as with increasing costs it appears that the price advantage may not last.
China has entered into the global economy, in joining the World Trade Organization (WTO), as well as the development of recent trade policies, has seen reduced barriers to trade.
Firms seek out strategies that are cost effective, so with lower overall costs, including lower wage costs, there were significant attractions and benefits of goods that can be manufactured (or
services provided) in China. However, increasing labor costs will not only increase the cost of the end product, they will also have an indirect effect with increased costs of inputs,
as the firm upstream, in the supply chain will also be facing the same issues in terms of labor, competing for the same employees. This has been useful for
starting and increasing economic growth, but as the demand for labor reached a critical point where the demand for labor overall, as well as specific demand for specific skills is
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