Wages are rising for them regionally, but the return on labor is lower than it was before. Previously, a laborer working 9-5 could afford a middle class life with a house, car, and nuclear family. Can a laborer in India or China afford that now? I doubt it.
That is great, a true testament to the wealth-creating power of globalization, but it doesn't change the fact that the return on labor is significantly lower than it used to be.
