Word: wage
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...consequence, the maquila operations along the border have bled 800,000 jobs in recent years. Infrastructure investment has dropped off so much in Mexico that for relatively light goods, it is just as cheap for the U.S. to import from China as from southern Mexico. And although a Mexican wage earner is paid three times as much as his Chinese counterpart, high domestic prices undercut, and nearly level out, his purchasing power. (Conversely, high domestic prices also push up those wages, further undermining Mexican firms' competitiveness.) "For Latin America, China is an incredible opportunity as a driver of commodity prices...
...Minimum Wage...
...after elections, the President's most prominent offer of cooperation came on this issue. Democrats have long made raising the federal minimum wage, which hasn't budged since 1997, a centerpiece of their platform. They want to boost it from $5.15 an hour to $7.25. The party's congressional members have pledged not to raise their own pay until the hike passes...
...wave didn't catch them," said Yarmuth. "Democrats who might have been inclined to vote for them, figured, 'What's the difference?'" Even supposed conservative Democrats like former sheriff Brad Ellsworth in Indiana's 8th District, who trounced Republican incumbent John Hostettler, ran in support of raising the minimum wage and against some of the Bush tax cuts...
...Democrats from across the political spectrum are finding common ground on economic issues, including CEO pay and the minimum wage - populist messages that had been muffled among Democrats during the economic boom times of the Clinton Administration. "They resonated this time a lot louder than they have in a long time," Todd said...