富士康

WHY CHINA'S PAY UNREST IS HEALTHY

There's trouble in the assembly plant of the world. Chinese workers in several plants are bypassing state-controlled trade unions and confronting management. Consumers across the globe face a cost hike at a key stage in the thousands of supply chains that bring them electronics, clothes and toys.

And about time too. Although the details of events in such a closed society are never clear, the protests seem simply to be seeking out the path taken by every successful east Asian country. The only real risk posed by labour unrest is if the Chinese authorities overreact, inflame a pay negotiation into a political confrontation and so damage China's reputation as a reliable part of the global production chain.

The rise in pay looks like a natural consequence of the country's development and of the operation of labour markets, such as they are allowed to function. Productivity has risen over the decades, partly because of more capital per employee but also as a result of higher skill among workers. It is entirely natural for pay – whose share of gross domestic product has fallen steadily – to rise to reflect those returns. Moreover, economic growth more oriented towards domestic consumption by a growing middle class is precisely what China, and the unbalanced world economy, requires.

您已閱讀44%(1294字),剩餘56%(1644字)包含更多重要資訊,訂閱以繼續探索完整內容,並享受更多專屬服務。
版權聲明:本文版權歸FT中文網所有,未經允許任何單位或個人不得轉載,複製或以任何其他方式使用本文全部或部分,侵權必究。
設置字型大小×
最小
較小
默認
較大
最大
分享×