Have you ever wondered why your salary has grown slowly like a snail over the years, while house prices have skyrocketed?In fact, behind this phenomenon lies a historical change in the world economy. Before 2008, the income level of ordinary people danced in harmony with the increase in daily necessities and housing prices. People can feel the steady increase in income**, and they can also feel the moderate increase in prices. However, after 2008, the gap between the income growth of ordinary people and housing prices gradually widened. The ** of housing prices is as fast as a rocket of the wind, and the ** of income is a slow snail.
So why is there such a big difference after 2008?It turned out that the global financial crisis of 2008 left the U.S. economy in trouble. As the largest single national market for China's foreign trade exports, the consumer market of the United States has been hit hard by the financial crisis, and a large number of unemployed people have reduced their spending power, and China's foreign trade exports are also facing serious unsalable. At that time, China's top economic leaders expected the U.S. economy to recover as soon as possible, so as to drive the recovery of the global economy. More importantly, they want China, the world's factory, to operate at full capacity and export more industrial products to the world. Since joining the WTO in 2001, China's economic growth has largely relied on exports, a model that was severely challenged by the 2008 financial crisis. In order to stabilize the domestic economy, ** proposed a 4 trillion bailout plan in 2008. This continues to drive China's economic development through increased investment. However, while the move has succeeded in stabilizing the domestic economy, it has also accelerated China's structural imbalances.
Compared with other major economies in the world, China's share of final consumption is relatively low. By comparison, the U.S. accounts for a whopping 10 percent of consumption, while the European Union and Japan account for about 55 percent. U.S. economic growth has benefited from its consumerist culture, while China's GDP is more investment-driven. In China, investment accounts for nearly half of GDP at its peak, with a lot of money going to high-speed rail, bridges and real estate. However, these seemingly proud figures do not make the people really feel the increase in happiness. In contrast, workers in countries such as the United States are able to gain more in the process of over-issuance of money. However, in China, due to the existence of the demographic dividend and the lack of sufficient motivation for workers to raise wages, capitalists do not have a strong will to raise wages. 
In this process, we must recognize a rule: the change in the distribution of profits between labor and management, that is, the behavior of increasing the wage income of workers, must be realized through the behavior of the game between labor and management. We cannot expect capitalists to take the initiative to raise wages. The recent Dong Yuhui incident is a good warning.
So why don't Chinese workers have a strong incentive to raise their wages?First, China's labor market is so full that capital has every reason not to raise wages. Second, workers do not have sufficient incentives to raise wages. In the face of the power of capital, workers are often in a disadvantaged position. To change this situation, it is necessary to work together with all parties in society, through policy guidance, market mechanisms and other means to promote the equal game between labor and management.
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