China Quote by Frank Coyle
““The vast size of the available workforce in the emerging markets (1.3 billion people in China alone) means that labor costs will not rise above the $2 per hour threshold for decades. And, that is what we are competing against!””
About This Quote
Source Business Report, Global Labor Outlook 2020
The massive labor pool in emerging markets keeps wages low, shaping competitive dynamics for companies.
In simple terms: Large labor supply keeps wages low, affecting competition.
Key Takeaway
Strategize around cost‑effective labor markets.
Themes
economics
globalization
labor
competition
Mood
analytical
concerned
Type
strategic
informative
When to use this quote
- manufacturing
- outsourcing
- pricing strategy
Key Concepts
cost advantage
market forces
Questions to Reflect On
- How do you balance cost with ethical labor practices?
- What risks arise from relying on low‑cost labor?
A Different Perspective
Low wages may raise ethical concerns and quality issues.
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