Wages Rise in China/Vietnam, Cambodia and Other Countries Gain Manufacturing Market Share, Business and Industry Trends Analysis

Rapid advances in Chinese wages are changing the global manufacturing landscape.  Wages have been rising by 10% to 18% annually for several years.  For 2017, ECA International forecasted wage growth to slow to 7% (which includes an inflation rate of 2.3%).  In addition to wages, manufacturing workers often receive factory-provided housing and meals.  Official minimum wage rates vary by region in China. As wages increased in China, manufacturing is logically moving to nations with lower cost bases.  Vietnam, especially, is reaping the rewards of its cheap labor.  The U.S. Department of Commerce reported that exports of apparel and non-apparel textiles…

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