Free market principles work... even in China
The great thing about the free market is that the principles are consistent and they work everywhere. U.S. clothing companies are starting to look to countries other than China for manufacturing operations.
Why? Labor costs in China have risen so much it is now cheaper to make clothing in other locations: Vietnam, Bangladesh and Indonesia to name a few.
What's the going rate? Broadly speaking, $0.49 cents per hour in Vietnam versus $1.84 in China.
www.electiangilyeat.com
Why? Labor costs in China have risen so much it is now cheaper to make clothing in other locations: Vietnam, Bangladesh and Indonesia to name a few.
What's the going rate? Broadly speaking, $0.49 cents per hour in Vietnam versus $1.84 in China.
www.electiangilyeat.com


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