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five Korean Management in a Chinese Workshop: Economic Globalization and the Changing Factory Regime
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POST-FIELDWORK: THE CHINESE GOVERNMENT’S POLICY CHANGES AND THEIR IMPACT ON MNCS POST-FIELDWORK: THE CHINESE GOVERNMENT’S POLICY CHANGES AND THEIR IMPACT ON MNCS
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KOREAN MNCS’ RESPONSE TO THE POLICY CHANGES KOREAN MNCS’ RESPONSE TO THE POLICY CHANGES
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BRIEF HOPE, LONG DESPAIR: CHINESE EMPLOYEES AT NAWON BRIEF HOPE, LONG DESPAIR: CHINESE EMPLOYEES AT NAWON
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CODA CODA
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eight Globalizing Capital and the Bleak Future of Chinese Workers
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Published:April 2013
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Abstract
Chapter Eight concludes the book by speculating on the future of Nawon and the groups of people involved in its operations. Since 2005, the Chinese government has amended its regulations on minimum wages to decrease the growing income gap between the rich and the poor. The government also tightened its supervision of multinational corporations, focusing on their working conditions. Recent developments at Nawon and Nawon Korea, its headquarters in South Korea, give us an insight into how an MNC decides whether to relocate under rapidly changing market situations. The management’s reaction to the policy changes and the wage hikes reveal the dynamics of global capitalism that lead investors to constantly move around the world, searching for favorable conditions for profit maximization. This chapter also highlights the increasingly troubled workers’ situation at Nawon, which was created by the factory’s deteriorating financial condition and a gloomy rumor about an impending factory closedown.
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