Foxconn, the Taiwan-owned manufacturer with giant assembly facilities in mainland China which is one of Apple\’s main contractors, says it has raised wages by up to 25% in the second major salary hike in less than two years.
Stunning, isn\’t it?
It\’s almost like they have annual pay rises or something! You know, productivity going up, the reserve army of the unemployed disappearing, wages rise. Who would have thought it, eh?
Other than anyone who had bothered to read Marx of course….
And of course we know what happens next too:
Foxconn has also announced plans to invest in millions of robots and automate aspects of production.