China has reached the end of its economic boom. What comes next should worry every American business — and the rest of the world.
China has reached the end of its economic boom. What comes next should worry every American business — and the rest of the world.
That is undoubtedly true. They are protected to lose a shit ton of their population. By 2050,they will likely have 100 million fewer people. They are projected to lose another 100 million the following decade.
Granted that is a couple decades away.
But the demand for useless junk isn’t going down (see Black Friday), so China will remain a player in making scrappy junk sold for far too much.
Can’t wait for this cash grabby capitalist stage to die out.
For the short term, yes. Longer term, companies are already trying to shift supply chains away from China. India, for example, has been seeing interest and investment as either a second source or a replacement source of cheap labor. The US and EU have already taken steps to start de-risking or de-coupling from China. The US CHIPS Act being one of the more visible examples. Though that whole process will take time and China will be a major player in manufacturing for years to come, while that process is ongoing.
That’s roughly equal to losing Germany, France, and Italy, the three most populous EU countries.
As a French I find this terrifying