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China May Choose Wages Over Yuan Gains to Cut Surplus

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GUESS WHERE WAGES ARE ACTUALLY GOING UP?
"China, under international pressure to reduce its trade surplus, may choose to shrink it through raising workers’ wages rather than letting the yuan appreciate, Credit Suisse Group AG said," according to Bloomberg."Higher labor costs would cut Chinese export competitiveness while boosting domestic spending power and sustaining economic growth, according to the bank. Premier Wen Jiabao’s government has been pressed by U.S. and European officials to end a 19- month yuan peg to the dollar to help diminish trade and investment imbalances that contributed to the credit crisis."
SOURCE:   Bloomberg

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