The China Price

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The document discusses the concept of "the China price" which refers to ultra-low prices of goods manufactured in China. It attributes China's ability to produce goods at such low costs to seven key drivers: 1) low-wage and disciplined workforce, 2) large population and reserve army of unemployed, 3) privatization and urbanization, 4) lack of unions and long work hours, 5) lax regulations, 6) industrial clustering, and 7) government-sanctioned piracy and counterfeiting. The China price has thrown millions out of work worldwide but also helped lift millions out of poverty in China.

THE “CHINA PRICE” 低在“中国价格” BY GAURAV PATEL ( KH08JUNMBA65 )

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The article illustrates the results of the economic development of the first fifteen years of the XXI century under the conditions of unprecedented economic freedom, globalization and the appearance of new informational sectors up to and including the first attempts at revising liberalism. The analysis of statistical data demonstrates an obvious increase in the percentage of well-off people in many countries as well as the increased economic capabilities of small, medium and large businesses, whose assets are distributed among an ever-increasing number of owners. This provides the impetus to review our collective approach to liberalization and globalization, as well as to view its unexpected strong sides that make human progress possible.

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The China Price

1. THE “CHINA PRICE” 低在“中国价格” BY GAURAV PATEL ( KH08JUNMBA65 )

7. Key “drivers”

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The China Price

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