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?
What will happen to humans when the robots take away our jobs? Martin Ford, author of Rise of the Robots, on the imminent threat to jobs and the capitalist system.