Many Asian countries such as China, India and Vietnam have a large amount of their population working on dollars a day. In China, 482 million people or 36% of their population, work on less than $2 a day (waronwant). With these low wages that they are being paid, many American corporations have moved their larger factories over to these countries to take advantage of these low wage costs. These companies such as Nike, Wal-Mart, Dell and Apple, see the large benefit in reduced production costs that come from paying people less than $2 a day while the minimum wage in the U.S. is $7.25 an hour (NY …show more content…
The solution to this problem will be for the countries with this issue to raise the minimum wage rate and then follow through and enforce it. The wage laws right now in China are set by counties and regions, not the entire country. I believe that if China sets a wage rate for the entire country above what it is right now, this will improve many people’s lives and their attitude towards these factories. Another benefit that comes from raising the minimum wage rate in these countries, is that it does not give American corporations as much reason to move their factories to these foreign countries. The companies will be forced to keep the factories here in the U.S., this will then provide more jobs for Americans and also maintain proper working conditions. However, without this country wide regulation that is not likely to happen, there is little hope for change (NY