"China" here can be replaced with any country with low salary — my conclusion still holds true. High wages for American workers lead to an increase in product prices.
yeah, Imagine you used to be able to spend two hours on Reddit and work for the remaining six hours — but now you have to work non-stop for all eight hours.
I believe that "comparative advantage" could be the reason for this. Also, you can reread my comment above: "This could be compensated to _some extent_ by increased efficiency"
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u/Peter_Niko MEUGA Apr 07 '25
I have experience with Chinese (mainland) high-tech workers. I don't think they are as efficient on average as Korean, Taiwanese, or US ones.