China growth to become the worlds leading economy
China’s Impressive Growth 2
All abroad take a profitable ride on the orient express! Just as the inner-city transportation
express trains gets thousands of commuters to their destination more rapidly than the local train.
The express train does so by-passing all local stops and goes to the most traveled destination. So
too is there an express in our global economy, and U.S. companies are going abroad and taking
this train by-passing our local companies. Most Americans have grown accustom to value
shopping at stores like Wal-Mart, Target, and many others. The benefit of these low priced retail
stores has spoiled many Americans. Let’s face it we all love to go shopping. Many Americans
never think about the price our country pays for keeping our consumer goods prices reasonably
low. China the global economic engine is one reason for these considerably low prices. We need
China to keep prices low and keep our economy moving and our businesses profitable. But is
America putting profits before its ethics?
Manufacturing which is 15% of the U.S. economy is slowly withering away. China is producing goods at nearly half the cost of its leading competitors. This makes it irresistible or maybe even inevitable for foreign companies to manufacture their goods in China. As of September 2007 the minimum wage of Chinese workers is the equivalent of one U.S. dollar an hour. Although there is pressure from China on companies to raise the wage up to 95% it will remain a ...