Thoughts?Low wages and low-cost manufacturing used to make Chinese markets tough for U.S. manufacturers to break into. Today, rising wages in China are giving American companies second thoughts about moving their manufacturing jobs to China, Greenblatt said.
“All of a sudden, if your math says, ‘I’ve got to pay the guy $7.50 an hour in Shanghai or I can hire a guy for $12 a hour in Canton, Ohio,’ why would I do it in Shanghai?” said Greenblatt. “I’ve got intellectual property issues over there, there’s no rule of law, there’s a lot of corruption. Plus if I make it here, I get the stuff six weeks faster: there’s no freight. So a lot of the reasons to push jobs overseas are starting to fall apart.”