As China transitioned from a double-digit growing, low wage, low regulation emerging economy to an upper-middle-income countrycertain fundamentals have started to take hold: higher wage demands, a lack of manual laborers, stricter environmental laws, and an almost unavoidable trade collision with the United States. China can no longer serve the same role that it played since opening up to the global economy in 1978 because the country is no longer what it used to be.
torsdag 26. mars 2020
COVID-19 Undermines China’s Run As The World’s Factory, But Beijing Has A Plan
Chinese workers are returning to their jobs, the factory lights have been turned on again, and the place that we have know as the manufacturing epicenter of the planet for the past 20 years gets back at it. However, China is stepping out from quarantine into a very different world. The exodus of companies leaving China had been underway for years—even before Trump’s trade war and the COVID-19 pandemic—and it’s not something that Beijing has necessarily tried to stem. To the contrary, Beijing is one of the forces driving it.
As China transitioned from a double-digit growing, low wage, low regulation emerging economy to an upper-middle-income countrycertain fundamentals have started to take hold: higher wage demands, a lack of manual laborers, stricter environmental laws, and an almost unavoidable trade collision with the United States. China can no longer serve the same role that it played since opening up to the global economy in 1978 because the country is no longer what it used to be.
As China transitioned from a double-digit growing, low wage, low regulation emerging economy to an upper-middle-income countrycertain fundamentals have started to take hold: higher wage demands, a lack of manual laborers, stricter environmental laws, and an almost unavoidable trade collision with the United States. China can no longer serve the same role that it played since opening up to the global economy in 1978 because the country is no longer what it used to be.
