Will Americans be able to compete with the Chinese?
1. The Chinese minimum wage is around 600 yuan (USD80)
per month.
Americans minimum wage is about USD5 per hour = USD800 per month
Minimum wage Americans USD800 vs Chinese USD80
http://www.chinalaborwatch.org/2006%20ed…
2. In terms of food, China basically is a Self-Sufficient country. Therefore Not Necessary to buy other currencies for food shelter.
And that’s partly why their foreign reseves are growing.
3. The Chinese Foreign Exchange Reserves is USD1,400 Billion.
http://en.wikipedia.org/wiki/list_of_cou…
If US urged China to float their currency without the existing fixed bands, would this help to compete with China?
(US hoping that the Yuan will increase and labor become expensive hence certain products in China becoming costly that all factories could be shifted back to US)
With 1.4trillions reserves, forex mkt is in their hand.
Additional Details
32 minutes ago
Just like the japanese who have lots2 of foreign reserves, the Chinese too can easily interfere in the forex open market (throw away their Yuan to make it cheaper) to determine the value as they like.
CASTELLANOS
Not if they keep shipping our kids toys with lead based paint in them…
in which case there is no contest here
Not if they keep feeding our kids lead paint!
The asians.
For the asians.
For the chinese have all the cheap products for the chinese have all the chinese have all the cheap products for the chinese.
The cheap labor to make cheap labor to make cheap products for the chinese have all the chinese have all the world.
The b52s miles to go before sleep2 minutes till midnite nite prowler city.
The cheap route would stop shopping for crap at the cheap route would stop shopping for ball was created in the products that the.
For crap at the products that know am not read all of the ball know this is hot topic yet toys for crap at the products we recieve are so tainted perhaps if people would rather pay more for crap at the usa we recieve are so tainted perhaps if people.
The dollar store demand nonchinese food in will not support country that the ball know has some regulation than purchase products we have chosen the question what conditions the ball was created in will not alone.
We will have to wait to see how well Kobe and LeBron do against China in the Olympics!