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Apple’s Foxconn To Double Wages Again

Posted By kurtnimmoadmin On May 28, 2012 @ 7:27 am In Economic Crisis,Old Infowars Posts Style,Tile | Comments Disabled

Tim Worstall
forbes.com
May 28, 2012

That’s the story coming out of Taiwan that Foxconn, the major supplier to Apple, is going to double the workers’ wages again. No doubt any number of campaigners will claim victory here but it’s almost certainly nothing at all to do with demands that Apple be “ethical” and everything to do with the economics of the situation that Foxconn faces.

Taiwanese electronics manufacturing giant Foxconn will double the minimum monthly salary of its workers in mainland China by the end of next year, reports our Chinese-language sister paper Want Daily.

Earlier this month in Shanghai, Foxconn chairman and president Terry Gou announced that the company’s salaries in China will exceed the minimum wage in Taiwan by the end of the year. Media commentators said this means that salaries will have to be increased from the current levels of 2,200 yuan (US$350) to 4,000 yuan (US$630), a rise of 82%.

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