Comments by "ricardo kowalski" (@ricardokowalski1579) on "The End of Cheap Chinese Labor" video.

  1. This is good data It still only scratches the surface. The rise of china's cheap labor 1970s coincides with the stagnation of wages in the US and Europe. The huge labor pool in China affected wages everywhere. Effectively China's labor was a price cap. In just the same way as a more expensive chinese labor pool today will rise the prices of labor everywhere, the cap is moved somewhere else and it is much smaller in size What is needed is a quantitative evaluation of global labor demand, labor availability, and then track inflation adjusted prices in the 1950 to 2000 period. Further insight can be gained by tracking container ship tonnage and traffic (as a proxy for globalization) One of the better videos of this channel
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  2. True that. And the countries that escaped the middle income were wealthy enough to subsidize local agriculture, to avoid it from disappearing completely. China STILL has a large agrarian left over population. So large that it cannot be subsidized into middle income, much less high income. So China will have increased tension between rural agricultural and urban manufacturing sectors of society.
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