Apple manufacturer Foxconn reckons it will create one million jobs in India by 2020 – nearly the entire number of its current Chinese workforce – according to reports.
Hon Hai otherwise known in the West as Foxconn, last month revealed it was setting its sights on India due to increasing wage costs in China.
The firm has not released any more details or elaborated on what the plans will mean for its Chinese manufacturing base. However, it does appear to be slowly fleshing out a relocation move.
(Score: 4, Insightful) by c0lo on Tuesday July 14 2015, @12:12PM
Ummm... few decades? I'm not giving it more than 10 years. Wanna bet?
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 0) by Anonymous Coward on Tuesday July 14 2015, @12:22PM
> Ummm... few decades? I'm not giving it more than 10 years. Wanna bet?
China has had an official plan to increase minimum wage levels each year for a long time. The last 5 year plan said 13% annually. [china-briefing.com] I don't know if India can be relied on to make wage increases an official priority. Lack of a command-and-control economy and all that.
(Score: 3, Insightful) by c0lo on Tuesday July 14 2015, @12:45PM
Huh! Like it would matter... US had a pretty weak increase of federal minimum wage [wikipedia.org] over time, the purchasing power actually dropped ever since 1984... and yet it didn't take more than 15 years to lose most its "labor market"
https://www.youtube.com/watch?v=aoFiw2jMy-0 https://soylentnews.org/~MichaelDavidCrawford
(Score: 4, Insightful) by Anonymous Coward on Tuesday July 14 2015, @01:14PM
and yet it didn't take more than 15 years to lose most its "labor market"
That is thru the actions of things such as NAFTA. We used to protect our labor forces because we felt it was strategic to do so from a military standpoint. But that giant sucking sound was our economy turning into a paper tiger. The way they sold it was 'it would be too expensive to move the factory'. Well apparently it wasn't.
(Score: 1) by khallow on Wednesday July 15 2015, @12:59AM
And when the entire population has priced itself out of the labour market, who the hell will have enough money to buy their products?
Why would that happen? I think what I find annoying about arguments on jobs is that one side consistently claims things that never pan out.