"These companies set up factories in China because of the cheap labour sacrificing their own nation's workers, all in the name of increased profits."
Dont I know it Gringo! I work in manufacturing for an American conglomerate and Ive watched our overtime disappear and workload drop as they slowly get China and India up to speed to replace us here in Aus.
When I started with my current employer, my full time job was reworking the castings out of Chindia. They were absolute garbage! But as I was told, we were able to buy the steel, get is cast, get it machined and get it sent to Aus....for the same price as buying JUST the steel here. So my company was happy to pay me a few $$ to repair the rubbish as the lead times out of these countries is 8,10,12+ weeks.
Manufacturing is dead in the country. I'm trying to get into mining now but god only knows what will happen when the mining boom slows because all the manufacturing jobs are gone. Excess tradesmen everywhere I suspect :(
BRM Price at posting:
$2.19 Sentiment: Buy Disclosure: Held
