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Mexico’s auto unions agree to cut wages

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Posted on: June 5th, 2008
Filed Under: Blogante Business, Business, non-US news
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“Mexican auto unions are taking a cue from U.S. labor leaders by offering two-tier hiring schemes and salary cuts that bring already low wages down to near-Chinese levels.

As more automakers turn to , a big argument for the North American Free Trade Agreement in 1993 — that ’s low wage rates would slowly rise to close the gap with U.S. wages — seems to have been thrown in reverse”*

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