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GS presentation - • Average salary of civil servant in...

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Economic Development effects on United States Employment Since China’s joining of the WTO in 2001, jobs in the US have been consistently displaced due to trade deficits in the United States. Thousands of jobs are outsourced each year especially in factory work out of the United States and into the cheaper producing China.
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Chinese Incomes As stated previously, China has the second largest economy while still falling 99th out of 183 nations in GDP per capita. The level of income inequality is higher than in almost every industrialized country in the world. Inequality is blamed heavily on the income disparity on the rural-urban divide.
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Wage Facts about highly paid jobs
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Unformatted text preview: • Average salary of civil servant in China is 6 times min. wage compared to the global average of two times. • Management salaries in state-owned enterprises are 98 times min. wage compared to the global average of five times. • Wage disparity between jobs is abnormally high. – Solution Proposal • Some economists argue that the minimum wage should be increased as much as 200%. • There are many problems with this option. – Obviously the attractiveness of foreign companies wanting to produce in China would diminish. – Recent data suggests that the economy is inefficient and it’s workers unproductive. This may become evident once wages are more...
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This note was uploaded on 02/13/2012 for the course PLIR 1558 taught by Professor Sanchez during the Spring '10 term at UVA.

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GS presentation - • Average salary of civil servant in...

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