Quote by Laurent Fabius
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.
Summary
This quote suggests that the large populations of countries like China and India have a significant impact on global wages and salaries. Due to their advancements in technology and the reduced costs of transportation through the information age, these countries can offer goods and services at lower prices, putting pressure on wages and salaries in other parts of the world. The implication is that the demographic and technological advantages of these countries have a wide-reaching influence on the global labor market.
Topics
Technology
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