Comments by "Louis Giokas" (@louisgiokas2206) on "Foreigners, Flights, Investment All Zero Out, China’s Economy Is Finished" video.

  1. The cost of labor, as is pointed out, is not the same as the salary paid. The other factors mentioned are important as well. The one paying for that labor (the industrial customer) sees what is often called the burdened cost (salary plus all other overheads). On top of that, there is the efficiency factor. For China to compete with other countries it must be more efficient. Those other countries may have lower labor costs or be more automated. China lags in all these aspects.
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