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As factories relocate to other countries, local wages will rise faster than they did in China because the potential pools of surplus labor are smaller.
WSJ: China's Rising Wages Propel Prices
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Unlike the manufacturing industry in the West that gave birth to a middle class of both white-collar and blue-collar workers, manufacturers in China mostly absorb surplus labor from rural areas with few skills.
FORBES: The Myth Of China's Manufacturing Power
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Over the past several years economists have warned that China may be reaching the so-called Lewis Turning Point the stage at which the rural surplus labor pool effectively runs dry and wages begin to rapidly increase.
FORBES: Putting Foxconn's Wage Rises in Context
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China may be turning from a labor surplus to a labor shortage economy.
FORBES: Why A Labor Shortage Is Good News For The Chinese Economy
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To paraphrase John Stuart Mill, we trade products for products, the surplus of our labor for the surplus of others.
FORBES: Monetarism and Keynesianism: Identical Sides of the Same Adolescent Coin
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The answer is nowhere because our labor surplus caps employment costs for major corporations.
FORBES: The Fed Is Your Oldest Best Friend
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Simple labor economics might seem to predict that a wage floor would necessarily lead to a labor surplus.
FORBES: What We Need Is A Randomized Minimum Wage
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During China's 30 years of economic growth, hundreds of millions of factory and urban jobs soaked up surplus rural farm labor.
WSJ: China's Rising Wages Propel Prices
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With the negligible surplus, Mr Costello has left the Labor leader, Kim Beazley, little room to offer big promises in the election.
ECONOMIST: The government bids to stay in power
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The labor unrest had left many analysts forecasting a smaller-than-expected market surplus for platinum this year, with some saying the market could even become balanced if the labor disruptions lasted for long enough.
FORBES: Platinum Group Metals Tumble As South African Labor Issues Resolved
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In the past we have argued that colleges have produced a surplus of college graduates (at least in terms of the labor market demand for workers with a college education).
FORBES: So, Exactly Why Are They Going to College?