I heard a guy on the radio (don’t know which program - just caught it in passing). He said China had lost more manufacturing jobs then we had. That the ones we lost were primarily due to tech improvements. Has anyone else heard anything like this?
Most of the goods we now import from China are made by the same method that high tech firms in Britain would be doing if indeed they were still manufacturing. The big difference now is in many cases is not how the goods are manufactured but the quality of the material they are produced with and of course the cheaper labour which still makes them cheaper to produce and in and ship from China even though we now have to pay duty on goods from China. We used to get them duty free because China was considered underdeveloped third world country but now with entry to the WTO they had to accept their goods would now incur duty.
However as China is progressing economically so are the labour rates going up as the individuals in China are wanting more RMB for their work and becoming more materialistic themselves.
This is making the Chinese companies employ more automated procedures more high tech equipment and employing less people.