India Leads the World in Wage Hikes

An article from Industry Week discusses the double-digit wage hikes employers can expect to hand out.  According to the article, wages are set to rise almost 13%.

An excerpt:

At the fastest pace in the world, Indian corporate salaries are set to grow by 12.9% this year and will keep rising at this level for up to five years, a consultancy forecast on March 8.

Indian wage growth slipped to an average 6.6% in 2009, the survey said, but quickly moved up the following year to 11.7% as India shed the effects of the global economic downturn.

"We expect Indian salaries to grow by 12% to 15% over the next four to five years for sure," Sethi said.

Continue reading India Sets World Record for Double-digit Wage Hikes.

Asian Development Bank estimates China's growth at 10.1%

According to an article at Shanghai Daily, the ASD has revised China's expected growth.  An excerpt from the article:

THE Asian Development Bank has revised its forecast of China's economic growth this year to 10.1 percent from a September estimate of 9.6 percent.

China's faster-than-expected economic expansion will help emerging East Asia to grow 8.8 percent this year, up from a previous estimation of 8.4 percent, the ADB said in its latest edition of Asia Economic Monitor released yesterday.

The article also notes that strong capital flows into China has created inflationary pressures that have been fueling asset bubbles.  Additionally, the Asian Development Bank suggests China and other Asian countries should coordinate policies to achieve economic stability and sustained growth.

Read more: http://www.shanghaidaily.com/article/?id=456664&type=Business#ixzz17X6jpJEN