Is Chinese Labor Still Cheap?
The Economist hosts a forum asking “Is the era of cheap Chinese labor over?” Participants include Tyler Cowen, Lant Pritchett and Ricardo Haussmann. Cowen’s take: “The real question is what you get for your money, when you hire a worker. If Chinese wages are rising, it is because Chinese workers have shown that they are more productive. All the capital investment in China is yielding dividends in terms of greater output per worker and that’s good for virtually everyone.” [%comments]