From MarketWatch:
Opinions regarding China’s economic rise have generally been shaped by two hard-to-ignore numbers: one is the country’s current labor cost advantage, which is as much as 95% over multinationals in the U.S., Europe, Japan and South Korea; the other entails the prediction that in 30 years, China will become the world’s largest economy.
Chinese policy makers certainly know the direction they want to go in. Today, China is home to 16 of the world’s top 500 companies; the country is aiming for as many as 50 by 2010. But what path will they take?[Full Text]
