3 ms·

https://www.smh.com.au/business/the-economy/china-s-dilemma-growing-old-before-it-becomes-rich-and-powerful-20210408-p57hmx.html https://www.smh.com.au/business

• contingencies 5y ago
  In addition to the aging population problem mentioned in the article, a huge economic bubble based on domestic real estate investment funded by poorly secured loans has burst, the effects of which are only beginning to be felt. All across the country skyscrapers stand half built, monuments to better days. Simultaneously, Western supply chains are either actively or passively (due to shipping issues associated with COVID) seeking diversification, and Chinese labour is now considered too expensive for a large swathe of manufacturing. Traditional industries such as textiles, shoes and so forth are all moving out to Vietnam/Bangladesh/Myanmar/etc. The accelerating affects of automation further compound this scenario. Further, the local education system and HR market are undeveloped for higher level skills, and core aspects of the domestic business environment create substantial inefficiency (financial regulation and practice, commercial law enforcement, etc.). That said, I still find China to have many benefits as a business environment, and I will never work for military of any country on principle.