Spouting Nonsense About Chinese Manufacturing

Tim Worstall for Forbes (hat tip to Ian Betteridge for the link):

The question is not whether $17 a day is a low wage or not: it’s low relative to what? For a start, working those 6 day weeks that comes out to an annual income of $6,000 a year. No, not great riches by our standards but in China it’s a pretty fair whack. It’s around and about the per capita GDP for the whole country for example and thus obviously and by definition higher than average wages. Which is why those 1 million people have voluntarily signed up to work for those wages, many of them travelling hundreds of miles to do so.

There’s a lot of misinformation and misplaced rage at Apple’s expense. Read this.