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Calling China's huge population "arguably the greatest natural resource on the planet," Fishman details how hundreds of millions of peasants have migrated from rural to urban areas to find manufacturing jobs, providing an unlimited, low-wage workforce to power China's economy. In the process, this shift has changed both Chinese culture and the global business climate in significant ways. Simply put, American companies can't compete with wages as low as 25 cents an hour and lack of regulation and oversight, so are forced to move their operations to China or completely change the focus of their business. And it's not just a problem for the U.S.--even Mexico is outsourcing to China. Though it remains to be seen whether this will truly be the "Chinese Century" as Fishman asserts, China, Inc. is a brisk and informative look at why so many American corporations, and American jobs, are heading to China
Originally posted by cryptorsa1001
ulshadow, there are millions of chinese in the rural areas that are moving to the bigger cities for jobs which in turn keeps the wages low. I think it will be a long time before there wages go up.