Better get used to higher prices – Shaun Rein

Cheap labor has made the country into a source of deflation for global consumers, but as Chinese wages go up, consumers in Wall-Mart and elsewhere better prepare for higher prices, tells the author of The End of Cheap China Shaun Rein tells the BBC in an interview.

Minimum wages in China went up with 22 percent on average and moving production to countries like Vietnam and Indonesia works only for a smaller number of companies. So, for the first time in decades, China causes consumer prices world wide to rise, in stead of going down. Consumers should better get used to that new feature, Shaun Rein explains from the BBC studios in Shanghai.

Here you can listen to the whole Shaun Rein interview here.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’request form.

More on Shaun Rein and his book “The End of Cheap China” at Storify.