China is losing its low-cost image

Note: This section contains information in English only.
Source: Dukascopy
© NYC
Average worker salaries of around USD 4 200 per year are expected to double until 2015, Jae-Man Noh - head of joint venture operations in China at Hyundail. Rising wages have been a headache for international companies of nearly all industries outsourcing production to China, and gradually China is losing its perceptional image of a country with low-cost production. A while ago, Chinese workers from provinces were invading cities and pushing labor costs down, but now they demand higher salaries and better work conditions. Mr Noh finds this trend to be inevitable, and explains it with overall development of China.

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