In China right now, it’s the bottom of the income scale that’s heavily gaining in income. Minimum wage requirements in Guangdong province (where 20% of China’s exports are made) are up - again. Up 20% over the last year. That’s one of the reasons a small shortage in pork creates such a spike now, unlike 6-8 years ago; so many of the working class can now afford pork on a daily basis that demand has greatly grown.
And these labor laws are strictly enforced; one factory I work with over here was audited, forced to pay back wages, and fined double the total of back wages. It’s not the US or the EU, but it’s a lot better than it was 10 years ago, and better than Mexico, India, South America (save for Chile), and other places with heavy exports.
The richest in China are doing fabulously, and you can still live like a king of $3000/month. But the lower rungs are quickly climbing, evidenced by sudden jumps in food prices and housing costs, because they can afford these items. In fact, labor costs have increased so much that some companies are pulling out and moving operations to Vietnam and Cambodia, with even lower labor costs.
The problem was the government not having the correct supply side policies to meet the higher demand, not the little guy making more money.
And for the other 900+ million with no minimun wage?
yitbos