Quote:
Originally Posted by MrPots
China is now progressing into the new age with a growing middle class. The low pay workers of yesterday are now demanding higher salaries so they can live the western lifestyle. Those higher salaries will price them out of the "slave labor" market. That manufacturing market is currently moving to Thailand and Viet Nam.
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There are still large areas which are backward and thus suited to the "slave labor" market.
However China is trying to make the transition to an upscale economy a la
South Korea. And she is ably assisted by such company as GM which as moved a whole center to China.
The technology transfer here is direct; there is no lag.
Moreover Chinese are smart in not becoming too dependent on western
matrix. They have their own credit card system and have ALIBABA instead
of GOOGLE.