This is actually good news. I'd hate to see the Chinese version of factory-style capitalism go the route of nineteenth-century England and U.S. versions. Of course, the most immediate concern of us selfish western consumers is whether or not the price of Apple's gadgets will rise with the rising wages in Chinese tech factories. Personally, I hope the prices don't - it will send a message to ideologues that capitalism can satisfy the needs of consumers and workers alike.
Apple, though, is sitting on some 60 billion in cash, and the company has recently decided to pay dividends to stockholders. If the overwrought expectations of stockholders everywhere holds true, though, either Chinese workers' wages will stagnate or Apple gadget prices will rise in order to squeeze every last penny out of Apple to pay said stockholders.
Thus, Apple is on stage now to test the durability of capitalism everywhere.
By JOE McDONALD, AP Business Writers – 11 hours ago
Causes Bob Mustin Supports
Native American culture. Education. Creative writing.