Experts have said that China's role as the world's premier low-cost manufacturer is shifting as wages and other costs rise.

The New York Times reported on Monday that Credit Suisse economist Dong Tao, said, "For a long time, China has been the anchor of global disinflation. But this may be the beginning of the end of an era."

Foxconn Technology, makers of American brand smartphones and computers and faced with rising criticism over a spate of worker suicides, said it would double salaries for many workers to improve their standard of living.

Also, Japanese automaker Honda, signifying a new trend, offered raises of up to 32 percent for 1,900 assembly line workers in China to settle a strike at four of its factories.

It has also been reported that Chinese cities are also considering raises for workers as the fast-growth economy has caused real estate prices to escalate, especially in metropolitan areas. In addition, while the global recession crimped exports, China is increasingly reliant on its domestic market to keep production growing.

Referring to international discussions between the United States and China, Marshall Meyer, a specialist in China at the Wharton School of Business at the University of Pennsylvania, said, "Demography will do what the Strategic & Economic Dialogue hasn't." (With Inputs from Agencies)