China is also no longer cheap. Wages have skyrocketed, with the average factory worker making $6 per hour on average in 2020, up from less than a dollar in 2006.
The average wage of a Chinese factory worker will very soon surpass the U.S. federal minimum wage. For comparison, the average rate for a Mexican factory worker has stayed stagnant at $2 per hour.
Apple’s Chinese Dream is over | Semafor
https://www.semafor.com/article/11/30/2022/apples-chinese-dream-is-overTidbit:
Taiwan-based Hon Hai Precision Industry, better known as
Foxconn
