Some would have you believe that globalism benefits workers in the developing world. Others claim that globalism is nothing more than a "race to the bottom" as corporations continously shift their assets around in search of the cheapest jurisdiction to operate in.
Now China Daily reports two interesting facts about all the jobs the USA and other developed countries have sent over to China:
1. Chinese wages and salaries have gone up. Quite dramatically in some cases. For example, a manager who worked for a German machinery manufacturer in 2000 earned $617/month. Today, he or she earns $1850/month plus bonuses.
2. As a result of improved pay, foreign companies are now starting to shift their business to cheaper labor countries such as India and Vietnam. Nike is moving to the latter.
Read Cheap Labour Cannot Last.