The Rise and Coming Fall of Chinese Manufacturing
China has built its manufacturing sector largely on the strength of an abundant workforce and high US demand. Now, reduced access to the US market, combined with trends like population aging and a shift toward services, has made the decline of Chinese manufacturing imminent.
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MADISON, WISCONSIN – Chinese overcapacity is raising concerns worldwide. It is easy to see why: China accounts for nearly one-third of the world’s manufacturing value-added, and one-fifth of global manufacturing exports. But there is good reason to believe that the decline of China’s manufacturing sector is imminent.