I’ve been one of the few people I know who didn’t think China was going to keep up it’s growth rate much longer. Manufacturers have been quietly moving production elsewhere for years now, some of it even coming back to the U.S., where a higher paid worker is still cheaper when the factory is automated. China is being undercut by other countries for the cheapest mass labor.http://www.forbes.com/sites/jaysomaney/2015/08/19/chinese-gdp-growth-of-7-in-2015-dont-drink-the-kool-aid/I took an economics class years ago, studying the problems with centralized control of economies. It works for a while, when there are big, obvious ways to increase production, but after those easy gains are made, it turns into expensive & wasteful subsidies for market losers.
I’ve been one of the few people I know who didn’t think China was going to keep up it’s growth rate much longer. Manufacturers have been quietly moving production elsewhere for years now, some of it even coming back to the U.S., where a higher paid worker is still cheaper when the factory is automated. China is being undercut by other countries for the cheapest mass labor.http://www.forbes.com/sites/jaysomaney/2015/08/19/chinese-gdp-growth-of-7-in-2015-dont-drink-the-kool-aid/I took an economics class years ago, studying the problems with centralized control of economies. It works for a while, when there are big, obvious ways to increase production, but after those easy gains are made, it turns into expensive & wasteful subsidies for market losers.