I haven't been doing too good of a job doing any posting here the last few weeks. It's not that my situation has changed appreciably for the better nor has the economic situation of other un/underemployed folks gotten better. But occasionally life does intrude, even when things are not going all that well.
That being said, there have been a couple of articles from the NY Times recently that I can only hope will penetrate the minds of people in power. (I shant be holding my breath mind you, but I can hope).
First up is this article from back in June on the possibility of rising wages in China possibly causing prices of Chinese made goods to rise.
Coastal factories are increasing hourly payments to workers. Local governments are raising minimum wage standards. And if China allows its currency, the renminbi, to appreciate against the United States dollar later this year, as many economists are predicting, the relative cost of manufacturing in China will almost certainly rise.
The salaries of factory workers in China are still low compared to those in the United States and Europe: the hourly wage in southern China is only about 75 cents an hour. But economists say wage increases here will eventually ripple through the global economy, driving up the prices of goods as diverse as T-shirts, sneakers, computer servers and smartphones.
“For a long time, China has been the anchor of global disinflation,” said Dong Tao, an economist at Credit Suisse, referring to how the two-decade-long shift to manufacturing in China helped many global companies lower costs and prices. “But this may be the beginning of the end of an era.”