Sep
16
China Explores Work Ethics
Posted by: Janna Chi | September 16, 2010 | Leave a Comment
After reading the article ”China Shifts Away From Low-Cost Factories”, I found that business ethics is becoming more of a concern. It is unethical to pay factory workers 90 cents per hour. The government is finally governing the wage rates! However, this leads to an increase in cost. Therefore, companies are looking for different ways to relieve this situation by making their own brand or moving their companies to other lower-wage countries like Vietnam. Nowadays, businesses are highly competitive in every industry. Due to this problem, I would assume that companies are unable to increase the prices of their product because by raising prices there is a risk of losing customers.
As a consumer wanting to conserve my savings, this article strikes me as good change. With this new concept of higher wage factory workers, I wouldn’t mind paying a little more! Additionally, if I were an employee in China, I would be grateful that China is undergoing a big improvement. With an income increases, poor living standards can be overcome. From another angle, China’s economy will be stimulated by the increased wages because when I earn more, I would obviously spend more.
Factory worker in China
Feel free to read the article yourself~
http://www.nytimes.com/2010/09/16/business/global/16factory.html?pagewanted=2&_r=1&ref=business