The Yahoo7 web-site (Aussie version) carries an item with this heading.
Find it at:
au.pfinance.yahoo.com/photos/photo/-/13263001/what-the-end-of-cheap-china-means-for-you/
Its clear (to me, anyway) that big changes are coming, and have been in the pipe-line for at least 5 years. It was about that long ago, that I noticed a news report saying that the Guangdong (provincial) govt. had started telling the shoe manufacturing companies that their leases on the land on which their factories were built would not be renewed and suggesting they move out of Guangdong to make room for higher valued products. They had served their purpose in GD, so now these factories could move to some other place with poor people, even out of China into Vietnam, etc.
At the beginning of this year, very large increases in pay rates were ordered by the Central government. Lots of workers got 50% or more increases. As a result many of the 100,000,000 migrant workers that provide factory labour to the east coast cities were now able to get a job nearer their homes.
Even, 3 years ago, during my last trip to China, walking along a food street in the city of Suzhou, - ( i.e. that's quite a long street with mainly restaurants along its length), nearly every shop had a sign up advertising their staff vacancies.
So what next? First, in all the cheap shops like Walmart in the US, Kmart and BigW in Australia, there will be an increase in prices.
Second, because Chinese living standards will be higher, expect to pay more for commodities like coffee and meat, even milk.
Third, there will be more Chinese tourists in your town (if its worth visiting), or competing with you in resort areas. And, Chinese airlines will become more visible.
Fourth, China is going to change much more. It changes all the time now. But will change at a faster pace. On my first visit to Beijing in 2001, there were 2 subway routes, now there are more than 10. Nanjing had no subways, now there are 3 routes. Suzhou had none in 2001, Now there is one in operation and a second opens soon. Shanghai had two lines then, now a dense network covers the city. and connected into the network is a maglev train that speeds you from the subway to Pudong airport in 7 minutes at over 350 km/hour ( www.exploreshanghai.com/metro/ ) And then there is the fast train network. My first trip from Shanghai to Hangzhou, was on a all-stations train and took 4 hours, we went back to Shanghai on an express train in 2 hours. Now on the fast trains, its only a one hour trip. There is something like 12,000+ kilometres of high speed track already laid and in operation. There could be something like 20,000 km in operation by 2020.
And finally, China has long been a destination for the curious and adventurous. Its now becoming a destination for many other reasons. Just as Chinese students now flood out to schools and Universities all over the world, So the world's students are flooding into China. Soon the top Chinese Universities will be grouped among the best in the world.
And if your among the best in your field, you'll likely find a job in China.
Hope you enjoy Yahoo's presentation.