Of cheap labor, China time to forget

A recent study from IHS, Markit indicates that the world ceases to perceive China as a country where production capacity with the cheapest labor.


Analyst Paul Robinson (Paul Robinson) said that for the first time in the annual survey less than 50% of the respondents agreed that they associate China with cheap labor. In 2012, there were 70%.


Since 2006, the average salary in the country increased by half, by 2014, it was $ 685 USD. For comparison: in Vietnam, Thailand and the Philippines, the salary was 212, 408 and $ 216, respectively.


Also the study confirmed that today’s China has evolved from a source of cheap labor in the country in which are concentrated the world’s supply chains for various product groups.



However, China and India and Mexico remain relatively attractive countries for foreign companies, and the United States and Europe showed the lowest scores in this survey for the last five years.

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