Competing with China; the hidden cost of a low wage economy.
We hear a lot about the need for Britain to be more competitive and especially how we should compete with the emerging Asian markets of China and India. In terms of cost and competition, China can produce more for significantly less cost; average wage in Shanghai province is approximately £4,600 per year compared to £26000 over the whole of the UK and a lower rate of between £17,000 and £21,000 in the North West and North Wales. However one statistic is worth looking at carefully. According to the China Labour bulletin , the official workplace death rate in China is 21 times that in the UK. When you hear about how we can’t compete with developing countries like China because of their low labour costs you need to remember that you are 21 times more likely not to return home from work to your family in China than you are in the UK. According to the China Labour bulletin the authorities who are responsible for enforcing health and safety law in China do not enforce the regulations