08.25.06
The High Cost of Cheap Chinese Labor - SeekingAlpha
The High Cost of Cheap Chinese Labor - SeekingAlpha:
The Chinese markets are obviously electric. A few years ago, it took earnings of only $6 million for an individual to make it on the Forbes “China’s 100 Richest” list; now a person needs nearly $100 million in total assets. Many graduates from Chinese universities see and hear about people making fortunes running their own businesses. They feel left behind if they stay in stable but stodgy MNCs. Moreover, it’s almost passé for 20- and 30-year-olds in China to stay with the same firm for more than a few years. Peer pressure to change jobs is huge; if you don’t, it’s almost as if there is something wrong with you.
It’s almost passé to stay at the same firm for more than a few years. Really?Wouldn’t it be a lot more helpful to compare job-hopping rates in New York and LA with those in Shanghai and Beijing? Yet another example of the constant hyperbole concerning all things China.
