Study On The Rationality Of The Minimum Wage In "The Belt And Road" Countries

The Belt and Road is a great initiative put forward by China in the post-economic crisis era.Under the guidance of this initiative,exchanges between countries and enterprises in the economic and cultural fields will be more frequent.At present,the research on the minimum wage of the "Belt and Road" countries is still relatively small and not deep.Based on the purpose of providing a reference for the improvement of the minimum wage system in China and providing reference for the overseas investment decision of Chinese-funded enterprises,this paper uses descriptive statistical analysis and factor analysis methods to compare the rationality of the minimum wage in the"Belt and Road" countries.This paper mainly draws three conclusions:First,more than 90%of the "Belt and Road" countries have clearly defined the minimum wage system in the labor law,and 14 countries are targeting the minimum wage.A special legislative interpretation;the minimum wage formulation model decided by the three parties or the two parties has been adopted by most countries;some countries have clearly defined the frequency of adjustment,most of which require an adjustment within 3 years;even if the minimum wage system is not implemented,an effective alternative policy is needed.Second,the average PPP minimum wage for the "Belt and Road" countries is $609.42/month.In terms of regions,the minimum wages in West Asia,Central and Eastern Europe,China,Mongolia-ASEAN,South Asia,the Commonwealth of Independent States,and Central Asia are successively reduced,and China's minimum wage is slightly lower than the average.In terms of relative level,the average value of the "Belt and Road" national minimum wage/average wage indicator is 44.47%,which is characterized by relatively stable middle and high income countries and closer to the average level.Third,through empirical analysis,it can be found that in countries with relatively good economic development,the ratio of the minimum wage to the average wage is more likely to fall within the range of[40%-60%]and has better stability.Based on the above conclusions,this paper proposes relevant countermeasures for Chinese-funded enterprises and the Chinese government.