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Also consider PRC manufacturing + secondary industry sectors roughly peaking at ~300M for both domestic and global demand. Past decades of global demand wasn't
by dirtyid 4y ago
Also consider PRC manufacturing + secondary industry sectors roughly peaking at ~300M for both domestic and global demand. Past decades of global demand wasn't enough to lift 1.4B PRC into higher income like other Asian Tigers, and PRC industrial policy + automation means they intend to hold on to as much industries as possible. Going forward, there's going to be less manufacturing jobs to spread around. Some small/medium size countries can grab their workshop turn, but I think with return of big bloc industrial policy, especially for strategic sectors, very few will get chance to build up to high end manufacturing / high income.