U.S. companies are no longer investing in much new capacity at home,
and the ranks of U.S. engineers are thinning. In contrast, China is
emerging as the most competitive manufacturing platform ever. Chief
among its formidable assets is its cheap labor, from $120-a-month
production workers to $2,000-a-month chip designers. Even in
sophisticated electronics industries, where direct labor is less than
10% of costs, China's low wages are reflected in the entire supply
chain -- components, office workers, cargo handling -- you name it.
Millwright Ron
www.unionmillwright.com