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Employee Wage Climbs Or Not Affect The Rise Of Christmas Consumer Goods

2011/12/17 9:25:00 23

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This morning, it is reported that Christmas is coming to the western traditional festivals. Americans find that the prices of all kinds of Christmas consumer goods are rising this year, which is closely related to the rise in wages of Chinese workers.

Experts pointed out that now China's labor costs continue to rise, exporters are no longer able to digest themselves, so they have to shift their prices to overseas markets and let American consumers pay.

Chinese manufacturing costs rise, US businesses have no choice but to raise prices.

After decades of low cost consumer goods suppliers in the United States, China

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Radical changes have taken place.

The article says that the rapid economic growth and the reduction of the supply of young labor force have pushed up labor costs.

Coupled with the increase in domestic raw material prices and the strength of the renminbi due to the increase in domestic demand, "made in China" has no longer had such a big price advantage.

Over the past year, the Chinese supplier of the American retailer Michel market.

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It rose by 15% to 20%.

John Menzel, the store owner, said he had been busy looking for ways to offset rising costs in the past few months, such as putting the supply of different suppliers together.

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Centralized pportation to reduce pport costs.

Nevertheless, shopping malls still have to raise the prices of consumer goods such as Christmas trees.

Menzel expects that because Chinese suppliers are still troubled by rising costs, he will continue to struggle with the price increase next year.

American furniture company Hooke has the same trouble. In the past two years, the price of the company's purchase from China has been improving.

In September, Hooke raised its 2/3 product price by 5%.

Hooke CEO Thomas is worried that his Chinese supplier will continue to raise wages to retain workers, and his company will face more price increases.

Thomas estimates that the cost of his supplier will rise by two to 30%.

US imports of Chinese goods are the biggest increase in 2008.

Statistics show that in October this year, the minimum wage in 22 provinces and municipalities in China rose by 22%, while some parts of the South have announced that they will increase by 15% in January next year to attract more workers.

Data released by the US labor department on 14 may show that the prices of goods imported from China increased by 3.9% over the same period last month, the biggest increase since 2008.

80% of shoes imported from the United States come from China. In November this year, the import price of footwear products increased by 6.1%. 60% of the furniture imported from the United States came from China, while furniture prices also rose by 6.1%. 80% of the suitcases also came from China, and the price rose to 8.3%.

The rise in these figures is one of the main reasons for the rise in consumer prices in the US.

Labor costs are rising rapidly and Chinese exporters are hard to digest.

Yishan Harris, an economist at Bank of America and Merrill Lynch, points out that the wages of Chinese workers have been rising for many years, which is not new.

The difference is that labor costs have risen to the extent that Chinese exporters are unable to digest themselves, so they have to shift their prices to overseas markets, especially in labor-intensive industries.

For US retailers, there is no need to worry about the competition brought about by price increases, because China's suppliers almost monopolize these areas, "we should go up together."

What really worries them is that American consumers may reduce their consumption because of rising prices.