首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
财经
Rising wages — together with currency fluctuations and high fuel costs — are eating away the once-formidable "China price" advan
Rising wages — together with currency fluctuations and high fuel costs — are eating away the once-formidable "China price" advan
admin
2014-11-06
65
问题
Rising wages — together with currency fluctuations and high fuel costs — are eating away the once-formidable "China price" advantage, prompting thousands of factory owners to flee the Pearl River Delta. Much has been written about the more than doubling of wages at the Shenzhen factory of Foxconn, the world’s largest electronics contract manufacturer, which produces Apple iPhones and iPads and employs 920,000 people in China alone. "One can talk about a world pre-and post-Foxconn," says Victor Fung, chairman of Li & Fung, the world’s biggest sourcing company and a supplier of Wal-Mart. "Foxconn is as important as that."
Foxconn’s wage increases are only the most dramatic. Our analysis suggests that, since February, minimum wages have climbed more than 20 percent in 20 Chinese regions and up to 30 percent in some, including Sichuan. At a Guangdong Province factory supplying Honda, wages have risen an astonishing 47 percent. All this is bad news for companies operating in the world’s manufacturing hub, and chief executives should assume that double-digit annual rises — if not on the scale witnessed this year — are here to stay.
Looked at another way, however, wage inflation provides companies with a once -in -a -generation opportunity to rethink radically the way they approach global production — and they should do so sooner rather than later.
Why the urgency? After all, wage hikes in China are nothing new. Since 1990, they have risen by an average of 13 percent a year in U.S. dollar terms and 19 percent annually in the past five years.
There are two big reasons and the situation is different now. The first has to do with productivity. Over the past 20 years, productivity increases have broadly matched wage increase, negating their impact. The pay rises came from a very low base, so while average wages grew 19 percent a year from 2005 to 2010, this amounted to only ¥260 a month per employee, a sum that could be offset by more efficient production or switching to cheaper sources of parts and materials.
If labor costs continue, however, to increase at 19 percent a year for another five years, monthly wages would grew ¥623 per month, according to BCG estimates. Such an increase would ripple through the economy in the form of higher prices for components, business services, cargo-handling and office staff.
The second reason relates to societal change. Until now, it has been easy to lure a seemingly unlimited number of young, low-wage workers to the richer coastal regions and house them cheaply in dormitories until they saved enough to return home to their families in the interior provinces. In the future, though, young workers will be harder to recruit. This is partly because there will be fewer of them: Largely because of the country’s one-child policy, the number of Chinese aged 15 to 29 will start declining in 2011. Moreover, with living standards rising across China, fewer of today’s rural youth will want to go to coastal regions to toil for 60 hours a week on an assembly line and live in a cramped dormitory.
So what can CEOs do in this fast-changing environment? An instinctive reaction is to search for cheaper labor elsewhere. But this is short-sighted and would provide — at best — a short-term fix. Another option is to stay in China and try to squeeze out greater productivity gains.
Which of the following would be the best title for text?( )
选项
A、Rising Cost, A Pain in the Neck
B、The Irreversible Wage inflation
C、To Rethink Global Production Plans
D、As Wages Rise, Time to Leave China?
答案
C
解析
转载请注明原文地址:https://www.kaotiyun.com/show/mTgc777K
本试题收录于:
英语题库银行系统招聘考试分类
0
英语
银行系统招聘考试
相关试题推荐
Describeaninterestingsubjectyoulike.
Thepolicefiredteargasandarrestedmorethan5,000passivelyresistingprotestorsFridayinanattempttobreakupthelarge
Researchershaveestablishedthatwhenpeoplearementallyengaged,biochemicalchangesoccurinthebrainthatallowittoactm
Whenyoutravelbyair,yourluggagecansometimesgetlost.Thisismostlikelytohappenwhenyouhavetochangeplanes-sometim
Theorganizationwantsthemeeting_________immediately.
Thenews_________ChairmanHuattendedthegrandpartyincelebrationofMacao’sreturningtoChinafortenyears.
Bynineo’clock,alltheOlympictorchbearershadreachedthetopofMountQomolangma,_________appearedararerainbowsoon.
TELEPHONEMESSAGEFinanceandExpenditureDepartmentDate:February10Time:2:00p.m.Messagetakenby:NancyJohnsonMessagef
From:ThyNguyenTo:CyprusWinnSubject:FinalreviewfortheproposalDearCyprus,I’vecompletedourfundingproposal
From:DavidJohnsonTo:EricAndersonHello,Eric.Thanksforyouremail.First,I’dliketosayhowpleasedIwastohe
随机试题
甲会计师事务所首次接受委托负责审计ABC公司2012年度财务报表,K注册会计师担任审计项目合伙人。ABC公司2011年以及之前多年的财务报表由乙会计师事务所负责审计。甲会计师事务所审计项目组于2012年12月18日进驻ABC公司,2013年4月8日完成计划
男,65岁。排尿困难2年,尿线细,射程短,排尿时间延长。1天前因感冒后突发不能自行排尿,下腹区胀痛难忍。应先行
水利水电工程注册建造师施工管理签章文件中关于施工组织的文件包括()。
重交通用路面混凝土的弯拉强度应大于或等于()。
银行在对贷款进行分类以及判断借款人的某一笔贷款是正常贷款、关注类贷款还是不良贷款的过程中,通常要经过()四个步骤。①还款可能性分析;②基本信贷分析;③确定分类结果;④还款能力分析。
下列各项中,符合增值税纳税义务发生时间的有()。
在航空运价中的体积重量是以体积折算为重量(公斤或磅)。如一批货物的体积为30000立方厘米,实际重量是3公斤,则其体积重量为()。
{an}是一个等差数列,a3+a7一a10=8,a11一a4=4,则数列前13项之和是()。
根据婚姻法规定,离婚时,原为夫妻共同生活所负的债务,应当共同偿还;共同财产不足清偿的,其处理办法是()(2011年非法学基础课单选第35题)
若线性表采用链式存储结构,则适用的查找方法为(31)。
最新回复
(
0
)