China factor drives global wages up
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.