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China Facts: The trade war will make China more resilient in the future

 

A tighter domestic labour market and a trade war with America, counter-intuitively, will in the long run make Chinese firms and thus China's economy as a whole more resilient in the future. Many Chinese companies are betting heavily on automation to remain competitive. In 2017 China's installations of industrial robots rose by 59% to 138,000, more than in America and Europe combined. Willy Shih of the Harvard Business School says that China's sheer size enables them to practice and refine their production processes on a scale that allows them to keep cutting costs. The other is the skills of the robots themselves. He says there is so much "embedded knowledge" in today's machine tools that china can quickly start creating products that may have taken a generation to develop previously. *) 

 

*) The Economist 5th January 2019

 

 

 

 

 

 

 

 

 

 

 

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