Taipei Times - archives

Taipei Times - archives
Hon Hai Group (鴻海集團) has announced two salary raises in a week for its Foxconn plant in Shenzhen, resulting in a total raise of 122 percent. The event has shaken the Taiwanese stock market, shocked Taiwanese businesspeople along the southern China coast and changed the environment for China’s export-­oriented processing industry. Many Taiwanese investors and other foreign businesspeople now worry that the era when China was a low-cost paradise has come to an end with Hon Hai’s massive salary increases.