But some economists say the higher wages will not affect China's competitiveness, in the long term, as companies are likely to move inland to tap cheaper labor markets.
VOA: standard.2010.06.24
Stanley Galanski, The Navigators Group president and CEO, said the firm expects to finish the move from Stamford around Labor Day.
The Fed announced its move minutes before the Labor Department said the February employment picture in the United States was far worse than had been expected, with 63, 000 jobs lost.