"The demographic weight of countries such as China and India exercise a massive pressure on our wages and salaries. They have accomplished massive technological advances and the revolution in information technology has reduced the costs of transport"
- Laurent Fabius
About this Quote
This quote by Laurent Fabius speaks with the impact of the population size of countries such as China and India on earnings and wages in other nations. The large number of individuals in these countries implies that they have a large swimming pool of potential employees, which can drive down incomes and salaries in other nations. Furthermore, these countries have actually made considerable technological advances, which have actually enabled them to produce products and services more effectively and cheaply. Finally, the transformation in information technology has actually reduced the costs of transport, making it simpler and cheaper to move products and services all over the world. This has actually even more increased the competition for jobs and wages in other countries. In conclusion, the population size and technological advances of countries such as China and India have had a substantial impact on salaries and salaries in other countries.
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