Over the past 25 years, China has become the world’s preeminent manufacturer, churning out everything from running shoes to Apple products. Powering that ascent was heavy foreign direct investment combined with a seemingly inexhaustible pool of cheap labor. But now, as the Chinese economy slows, wages rise and the workforce atrophies, the decades-long manufacturing boom may be ending. To help deliver China from industrial decline, the Chinese leadership is betting on automation. However for Beijing to become the world’s robotic leader, there is an even more complex issue behind updating robotic technology: how to handle the displacement of large numbers of Chinese workers?
How the growing use of robots in China will impact different sectors of the economy, as well as the country’s robot makers.
Why and how China will remain the factory of the world. In 1974, 23-year-old Terry Gou founded his own business on a $7,500 loan from his mother. It was enough to rent a small space and buy a couple of machines to mold hunks of plastic into television dials. In truth, what he had was […]