US Media Accuse China Of Raising Wage Levels To Boost US Prices

2011/5/10 9:08:00 51

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The third round of Sino US strategy

Economics

The dialogue will be held in Washington, D.C. on May 9th in the United States. The agenda is expected to focus on currency and debt issues, attracting the attention of major media at home and abroad.

U.S.A

The Wall Street journal in May 9th said that China's wage earners and rising wage levels began to push up prices in the United States and let the us enter the era of inflation.

The article says that China has plenty of labor force for decades.

Exit

Goods to the US remain at a low price.

American consumers are accustomed to cheap DVD players, sweaters and barbecue equipment.

However, the Chinese government has recently increased people's income to stimulate domestic consumption and reduce dependence on exports. This has not only increased the cost of Chinese domestic enterprises, but also affected foreign companies.

The article commented that, as a result of the price push, Chinese workers began to buy more goods and services with higher incomes, thus contributing to the prices of cotton and oil.

The rising living standards of emerging economies such as China will make natural resources in short supply and lead to higher prices.

In addition, the slow appreciation of the renminbi under the pressure of China's western trading partners also adds fuel to the price rise.

RMB

The appreciation has allowed China to import raw materials at lower prices, boosting domestic inflation and boosting the prices of Chinese exports.

The article quoted Jeffrey Sachs, an economist at the Global Research Institute of Columbia University, as saying: "some people think that we have shifted from a moderately deflationary era to an inflationary era, and this view is correct."