U.S. Execs "Extremely Worried" about China Pay Hikes

[Joanne98]

Seriously! South China News reports that the dirty rotten greedy heartless scoundrels that are U.S. and Europe's corporate executives are lamenting slave minimum wage pay increases in China.

The prospect of workers in China making a whopping 900 Yuan per month ($132 U.S. Dollars), for God knows how many hours of work and under what conditions, has actually frightened the overpaid, undertaxed greedy bastards otherwise known as CEO's.

Sarge in Seattle's diary :: ::
First they outsource most of the middle class wage manufacturing jobs to China in order to exploit the most desperate people in the world by rendering them slaves while pretending to employ them for their own benefit. Then, when pay starts to creep up above bare subsistence levels, they become "extremely worried".

These executives, at least a large portion of them, must be sociopaths. They simply do not care about human beings. They do not care about the environment. They do not care about the future for our children. They do not care how many people die by way of starvation, industrial accidents, cancer, lung disease, etc, so long as it serves their intersts. They care about two things: Their own personal exorbitant compensation, and profits for their shareholders.

Upton Sinclair's "Jungle" is alive and well, although it has mostly been outsourced to Asia.

According to a survey of major US and European corporations published this week by Credit Suisse, 40 per cent of executives are either "very worried" or "extremely worried" by rising wages in China

Why would U.S. executives fret about rising labor costs in China? Wouldn't that make U.S. manufactured goods more competitive? Yes, it would – if U.S corporations actually manufactured stuff in America. Unfortunately, most of the goods produced by U.S. corporations are manufactured outside of America. So if China's labor costs increases, it hurts the profits of U.S. companies that are manufacturing in China, and it hurts companies like Walmart, which provides "value" to its customers by demanding that suppliers seek out and enslave the least advantaged people on the planet.

Think about it. We've reached the point where we manufacture so little here, and so much elsewhere, that domestic corporate executives are distressed about the prospect of manufacturing in China becoming less competitive vis a vis U.S. manufacturing because of rising labor costs. Read that again, and fathom how completely sick that proposition is.

http://www.dailykos.com/storyonly/2010/8/23/895273/-U.S.-Execs-Extremely-Worried-about-China-Pay-Hikes

[Demeter]

1. Those POOR Babies!

Will they have to cut back? Sell the third house, or maybe the second boat?

Pension off an 80-year-old political hack?

I hope China has their guts for garters.

[Mimosa]

2. K&R n/t

[msongs]

3. why is there no comptetition amongst CEO's to work for lower wages to get stock prices up? nt

[dotymed]

4. HOW?

How is it that, despite the history that proves what happens when wealth is concentrated in the hands of a few, America has "unburdened" the wealthy from most taxes?
There are no protections for regular Americans (98%) that prevent their jobs from being "outsourced?"
When Clinton allowed NAFTA to pass, he said "if we are not happy with NAFTA, we can withdraw from it."
No ordinary American "is happy" with NAFTA or any of the "free trade" agreements which have ruined our economy and made paupers of the masses.
Of course, there is still that 2% of super wealthy Americans, and the ones who want to be, that love these free trade agreements.
They are the ones (along with their corporate "entities", who pay "our" politicians to stay in NAFTA.
These (very small minority) people are so greedy. It doesn't matter to them that they can't spend even half of what they have made others suffer for.
How is this still happening while the great majority suffer along with their children?
Americans used to have balls. They would have never allowed this.
Is it the propaganda from the MSM? Hitler depended on it and it held the populace in check.
There has to be a level, where no matter how much of a sycophant you are, you say enough.
The time is past.
ENOUGH.
Amazingly, only the "fringe" candidates like Kucinich, Sanders, Grayson...will speak the truth. That is why they are considered to be the fringe...

[marmar]

5. Oh no, what country's citizens can they exploit now?

nt

[blue97keet]

6. These are the scoundrels who whine about U.S. "competitiveness"?

The most "competitive" is he who can be cheapest and dirtiest.

[Enrique]

7. Come on China, you're getting soft!

where's the China that mowed down all those kids in 1989? That was the kind of China that's great for business! Most-favored nation!

[4_TN_TITANS]

8. Good for the Chinese workers but

even if they make more they will still be cheaper than American workers. It's a global bidding game of what countries will sell out their workforces for as cheap as possible.

[burnsei sensei]

9. No sympathy.

Let the bastards squirm-- they were living in a fool's paradise all along.