Had to happen.
bump
It’s an interesting comparison.
China wasn’t and isn’t vulnerable to the misadventures of its militaristic neighbors.
Ethiopia it seems, will be increasingly affected by what it’s neighbors are doing.
Boss acts like Captain Queeg.
Africa (and Socialism) wins again.
I guess the Chinese paying their Vietnamese workers $100 a month was just too expensive.
May I suggest Detroit.
Ethiopia is now where Japan was in the 20s, S. Korea in the 60s and China in the 80s.
The only competitive advantage any of these countries had, at the time, was their low labor rate, which allowed them to get low-skill jobs in and gradually increase their skills and therefore labor rate. Japan and SK are now, of course, first-world nations, while China is in part.
Those who object to these jobs going to low-wage countries, either because they “take away American jobs,” or because they “exploit the workers,” are preventing the people in these countries from accessing the only really proven way of climbing out of poverty. Personally, I wish the Ethiopians all the success in the world.
BTW, there is unfortunately no guarantee that low wages will lead to the Japan/SK/China bootstrapping process. Much seems to depend on cultural and political factors in the particular country.