China's Rising Wages and the 'Made in USA' Revival
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It wasn’t long ago that China was the cheapest place on earth to make just about anything. When China joined the World Trade Organization in 2001, the average hourly manufacturing wage in the Yangtze River Delta was 82 cents an hour. A new survey by Boston Consulting Group found that 16 percent of American manufacturing executives say they’re already bringing production back home from China. That’s up from 13 percent a year ago. Twenty percent said they would consider doing so in the near future.
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