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Economic Expansion in China Causing a Labor Shortage, Jeff Neal
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| Contributor | RP |
| Last Edited | RP May 12, 2005 07:39pm |
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| Category | Opinion |
| News Date | Tuesday, May 10, 2005 08:30:00 PM UTC0:0 |
| Description | It's hard to believe that a country with a population of more than 1 billion can experience a labor shortage, but the red hot Chinese economy is actually having a very difficult time finding workers. The problem appears to be two-fold in that the economy is growing so fast that the demand for labor is at an all-time high, and at the same time many Chinese no longer want to work long hours for dismal wages to make cheap consumer goods that, of course, are targeted for the export market.
Of course, the fallout of this tight labor market , along with increased material and shipping costs, are that the very profitable export market could take a hit because these higher prices will likely be pushed on to their biggest customers-like the United States and the industrialized European economies, which will possibly dampen demand.
The huge American retailer Wal-Mart (WMT) could directly be impacted given that the company purchased about $17 billion worth of products from China in 2004. |
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