Comment by _heimdall
10 days ago
This is far from a new challenge though. Another recent example, China has an advantage on cost of labor and manufacturing, and lack of enforcement of IP rights. They can produce for much cheaper than many other countries but it hasn't led to everyone banning trade with them.
What part of China has cheap qualified labor?
Skilled engineers nowadays demand between southern and central European prices at the very least.
Cheap qualified labor doing machining for example.
They def make less than in europe. You make very good money for working at Volkswagen on the line.
And China now also has software developers and even if they make the same amount, they are def also now a big player in the game and take parts of the cake.
What type of roles are you considering? Look into their manufacturing, for example. They make all kinds of heavy machineryat costs much lower than US prices, as far as I understand a big contributor is labor costs.
Its also worth noting that st southern and central European labor costs they would still have an advantage over the US.