The job of making cheap clothes, toys, and electronics is moving on to even cheaper labor markets, like Vietnam.

生产廉价的服装、玩具和电子产品的工作岗位，正转移到成本更低的劳动力市场，比如越南。

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Labor markets which we previously thought were inexhaustible, like China and India, have actually tightened up quite dramatically.

中国、印度这些我们过去认为可能用之不竭的劳工市场，事实上已显著收紧。

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First, workers are much more aware of their legal rights at the workplace, like their right to Sue their employers. Second, their bargaining power has improved with tighter labor markets.

首先是工人在工厂的合法权利意识的提高，比如控告雇主的权利；其次是由于劳动力市场的日益紧张，工人议价能力已经有了提高。

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But it is one of the most notable cases of overheating, with creeping inflation, a quickly appreciating currency, and a bubble-like behavior in its labor markets.

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The people who will succeed in more expensive labor markets like the U.S. will be those who can think creatively and generate the IDEAS that will propel economic growth.

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Europe, turning inward to absorb the former Warsaw Pact nations, made the fateful blunder of embracing the euro rather than a more aggressive program of reform in labor markets, subsidies and the like.

WSJ: Walter Russell Mead: The Myth of America's Decline