American Media Said That The Increase Of Manufacturing Costs In China Caused The Rise Of Consumer Prices In The United States

American media reported this morning that Christmas, a traditional Western holiday, is coming consumption The price of goods is rising, which has a lot to do with the wage rise of Chinese workers.

Experts pointed out that China's labor costs are rising, and exporters have been unable to digest themselves, so they have to Price rise Transferred overseas market Let American consumers pay.

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The cost of manufacturing in China rises, and American businesses have no choice but to raise prices

According to the media, China's role has changed completely after decades of working as a low-cost consumer goods supplier for the United States. The article analyzes that the rapid economic growth and the reduction of the supply of young labor force have pushed up the labor cost. In addition to the rise in raw material prices and the strengthening of the RMB caused by the increase in domestic demand, "Made in China" no longer has such a big price advantage.

In the past year, the cost of Chinese suppliers of Michel Mall, an American retailer, has increased by 15% to 20%. John Menzel, the owner of the store, said that in the past few months, he has been busy looking for various channels to offset the rising costs, such as putting the supplies of different suppliers together in a container for centralized transportation to reduce transportation costs. Even so, shopping malls still have to raise the prices of consumer goods such as Christmas trees.

Menzel predicted that as Chinese suppliers are still suffering from rising costs, his "struggle" with price increases will continue next year.

Hooke Company, an American furniture manufacturer, has the same trouble. In the past two years, the price of its purchase from China has been increasing. In September this year, Hooker raised the price of two-thirds of its products by 5%.

Thomas, CEO of Hooker, is worried that his Chinese suppliers will continue to raise wages to retain workers, and his company will also face more price increases. Thomas estimated that the cost of his suppliers would rise by 20% to 30%.

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The price of goods imported from the United States to China has increased at the largest rate since 2008

Data shows that in October this year, the minimum wage of 22 provinces and cities in China increased by 22%, while some regions in the south have announced that they will increase by 15% in January next year to attract more workers.

The data released by the Labor Department on the 14th showed that the price of goods imported from China by the United States last month rose 3.9% year on year, the largest increase since 2008.

80% of the shoes imported from the United States came from China. In November this year, the import price of footwear products rose by 6.1%; 60% of the furniture imported from the United States came from China, and the price of furniture also rose by 6.1%; 80% of the suitcases also come from China, and the price has risen to 8.3%.

The media pointed out that the rise of these figures is one of the main reasons for the rise of consumer prices in the United States.

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Labor costs are rising fast, which is difficult for Chinese exporters to digest

Ishan Harris, an economist at Bank of America Merrill Lynch, pointed out that the wages of Chinese workers have risen for many years, which is not new.

What is different from the past is that the labor cost has risen to the extent that Chinese exporters cannot digest themselves, so they have to transfer the price increase to overseas markets, which is particularly obvious in labor-intensive industries.

The media finally pointed out that, for American retailers, there is no need to worry about the competition problem caused by the price rise, because Chinese suppliers almost monopolize these fields, and "everyone should rise together". What really worries them is that American consumers may reduce consumption due to the rise in prices.