How median incomes have changed around the world since 1994 (China Edition)

In the past two decades China created 240 million new urban jobs. That compares with only 60 million for the US and the EU combined. Ergo, the globe was awash in cheap Chinese labor which kept global wage rates depressed.

That's over. China's wage rates are no longer that cheap, especially when compared to other nations in Southeast Asia, Mexico, and of course, India. Not to mention the fact that China's working-age population has aged out. There are no more people over 50 than workers. Additionally, half the nation's economy was cranking out real estate. That sector is now way way overbuilt and essentially dead...forever.