ECON110_China - Assignment#3 November 8 2012 ECON110 Professor C Assignment#3 China In less than three decades China workers have seen a dramatically

ECON110_China - Assignment#3 November 8 2012 ECON110...

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Assignment #3 November 8, 2012 ECON110 Professor C Assignment #3: China In less than three decades China workers have seen a dramatically increase in their income. Today China is an important player in global trade, exporting to numerous countries around the world. Many jobs have also been outsourced overseas due to the savings in cost and manufacturing, however if Chinas wages keep rising, this all could change. As Chinese workers standard of living increases through receiving higher wages, the demand for more goods will increase for now they have the money to purchase more goods and services. Workers most likely will even start demanding higher wages. With this global demand prices will increase, and in both manufacturing and goods and services the comparative
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Unformatted text preview: advantages fade away fast. Focuses will change from manufacturing and exports to those outside of China to strong focus on spending at home. China’s investment in global exporting will slow significantly and consumers will pay the price. With this happening more low-cost manufacturing will be needed, so outside countries might have to look elsewhere, unless China takes advice from Christopher D. Appel, author of the reading “Live Together, Die Alone” and create and innovate. Otherwise, the current trade will be greatly affected, prices will rise, jobs may return to the United States and we will all be affected....
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