industry
What does China2025 mean to you?
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by rosanna.terminio
- 06 September
- 0Comments
When China overtook Japan as the world’s second largest economy in 2011, labour shortages and rising wages were starting to emerge as serious concerns – many foreign and domestic manufacturers, still shaken by the 2008 financial crisis, started to suffer from the increasing costs of their Made in China production operations. Some enterprises chose to relocate to new, emerging Asian countries while others, like Foxconn, set in motion their plans to substitute human workers with robots, and automated their manufacturing systems.