Ceglowski, Janet; Golub, Stephen - CESifo - 2011
advantage in manufactures. This paper explores the evolution of China’s relative unit labor costs in manufacturing over 1998 …-2009. Between 1998 and 2003 China’s unit labor costs fell, but since 2003 they have increased both absolutely and relative to US … unit labor costs. Much of the rise in China’s relative unit labor costs can be traced to a real appreciation of the yuan …