April 11, 2006
Strong Wage & Productivity Growth in China
- Wages in China rose 12 percent annually from 1999 to 2000.
- In 2003, the laboring classes in China earned 13% more than the year before, and by 2004 and 2005, wages were increasing at a 14% clip.
- Productivity in China is rising at 20% per year.
- The Chinese are graduating 550,000 scientists and engineers every year. India is turning out even more: 700,000 per year.
- Together, the labor pool of very skilled professionals, in both India and China, is growing three times faster than the United States.
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