Funny how costs and prices continue to skyrocket yet wages are still tanking. It is even more confusing considering the improved worker productivity.
What drives these costs up if not labor? Incessant thirst for profits?
My guess is supply and demand. More and more people are moving higher in socioeconomic status, especially those in the two most populous nations. As their SES improves, they demand the same luxuries that Americans and Western Europeans have. As the demand increases, the price will increase to equilibrium.
"Panic not my child, the Great Yellow Father has your hand"--Larry Dressler