China fac­tor drives global wages up

China Daily European Weekly - - News Digest -

China played a sig­nif­i­cant role in global wage growth from 2008 to 2017, help­ing the av­er­age wage to rise by 22 per­cent, com­pared with just 13 per­cent if the coun­try is ex­cluded, ac­cord­ing to a re­port by the In­ter­na­tional La­bor Or­ga­ni­za­tion. Ex­perts at­trib­uted China’s in­flu­ence on wages to the coun­try’s steady eco­nomic growth and its chang­ing growth driv­ers. Ac­cord­ing to the new re­port, which was based on data from 136 coun­tries, the an­nual av­er­age global real wage in 2017 grew by 1.8 per­cent year-on-year, the low­est rate since 2008. The growth rate in 2016 was 2.4 per­cent. The re­port again sug­gested China was a sig­nif­i­cant fac­tor. With­out China, the av­er­age real global wage in­creased 1.1 per­cent last year.

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