The Grinches of the Far East

Those wicked Chinese! According to this vigilant piece at The Week, if you can't afford as many Christmas gifts as you'd like this year, it's all their fault. And why? Because greedy Chinese workers are getting paid more than they used to.

Economists note that labor costs in China have been on the rise for years, but they are now reaching a point where exporters can't simply absorb them and they're getting passed on to the customer.

I've written about this before, but I decided it was worth repeating now that The Week is taking this, well, Christlike stand, showing its compassion for American consumers but putting the blame where it really belongs: on Chinese workers who are finally starting to earn more than $125 a year. Just so regular Americans will know who their real enemies are, you know?

But not to worry: The Week even offers us some hope, and we know how important hope is:

What now?
It's expected that Chinese labor costs will continue to go up and up, but that might not be a bad thing. According to a recent study, as analyzed by the Boston Consulting Group, labor costs in China will reach a "tipping point" by 2015. At that juncture, Chinese labor will be so expensive that various industries could move their manufacturing operation to the U.S. and generate millions of new jobs.

And, if our corporate overlords get their way, they'll move Chinese wages and working conditions here, just like we had them in the old days. After all, Chinese capitalists learned from us. In return, we can export American unemployment to China. Remember: it's more blessed to give than to receive!