Major China export hub raises minimum wages
1/4/2012 11:12:01 AM
Beijing: Shenzhen, a major manufacturing hub in southern China, will increase its minimum wage by 13.6 percent in February despite warnings from factory owners the move could deal another blow to exporters already reeling from a sharp drop in Western orders.
Whilst China's leaders are aware of the pressures on exporters facing shrivelling orders from a debt-stricken eurozone, surging production costs and currency appreciation, they've also pledged to lift migrant factory worker wages to ease wealth inequalities and the sting of nagging inflation.
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