We’ll be paying for it soon.
HST isn’t the only thing that is set to bite us.
It seems that for some reason the workers of China are getting a wee bit cranky about the $1-2 a day they get paid. Suicides are up. Walk-outs are starting.
What can you buy that isn’t made in China these days? We’ll see inflation in the not too distant future as the slave wages increase.
June 7 (Bloomberg) — The moment that corporate executives from New York to Tokyo have dreaded has arrived: Chinese workers are demanding a raise.
It was great for company balance sheets while it lasted. Hundreds of millions were willing to toil for a dollar or two a day. The arrangement pumped up profits and made many a senior vice president look like a genius. Well, those days are over and the global economy won’t be the same.
Just ask Honda Motor Co., the subject of a recent walkout that shut down all of its production in China. The carmaker had to offer workers a 24 percent pay raise to get things back online. Consider this the vanguard of a Chinese we-won’t-work- for-peanuts movement and another reason to fret about inflation.
Higher wages won’t just become the norm because workers feel exploited. China will have no choice but to advocate big increases in compensation to keep the peace among its 1.3 billion people. Labor unrest is bubbling up as rarely before…
photo credit: Robert Scoble
June 6th, 2010 at 10:27 pm
It is unfathomable why Harper and Flaherty are advocating the HST.
June 7th, 2010 at 11:12 am
Good – maybe we can afford to make our own stuff again.
June 7th, 2010 at 11:24 am
Eventually Chinese wage demands combined with inferior grade products will make it attractive to manufacture in Canada again.