Greenspan of control

Alan Greenspan seems older than time itself but still has a clear view of the world. He was arguably the greatest central banker of all time and is still seen to be quite influential. Of the many interesting views he promotes, one about China is intriguing indeed. He argues that the introduction of cheap Chinese goods has accounted for our recent low inflation environment even in the face of rising oil prices. He then goes on to say that as Chinese manufacturing capacity gets soaked up?Chinese wages are rising and that this could lead to a period of prolonged inflationary pressure.