Rouble devaluation puts Russian salaries on par with China

The devaluation of the rouble has brought Russian salaries on par with those in China, according to a new report  from the global management consulting Hay Group. In a study that covered 21 sectors of the Russian economy,  its analysts found that  while the salary level of highly qualified workers in Russia had been  38% higher than in China last year, they were now on par. 
According to the study, cheaper labor costs may induce companies to use Russia as a manufacturing base; the US pharmaceutical company Abbott is already planning  to manufacture anti-cancer medication in the Veropharm factory in Russia and the French pharmaceutical company Sanofi  is said to have similar plans.
Wages in China has been  increasing steadily for a number of years: according toits  country’s National Bureau of Statistics, the average salary increased year on year by about 12% in the first half of 2015 alone. 

Source: rbth