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Foxconn is moving production lines to Vietnam and Mexico. Apple is doing more business in India. With a weakened export market, Xi is trying promote a consumer economy in China.
China's real estate is in shambles. Million of Chinese are fleeing to nearby countries for jobs. The CCP's dream of world domination is put on hold. Xi is depressed and calls best friend Putin to cry.
You're only in your late 50s so I hope that you live long enough to witness the epic collapse of China. It was supposed to happen in 2000, then in 2005, then in 2010, then in 2020. I'm sure it's going to happen in your lifetime.
As long as we keep watching "China Observer" videos.
So my question is where did these companies move to ? Or closed down ?
The companies selling things are not going to leave China. Because It will remain the most or second most populous country.
They are about leaving to save costs. Unlike the larger countries, Very cheap countries have cheap labor but do not have good technology. And Corruption is more serious.
The companies selling things are not going to leave China. Because It will remain the most or second most populous country.
They are about leaving to save costs. Unlike the larger countries, Very cheap countries have cheap labor but do not have good technology. And Corruption is more serious.
Corruption is a major issue in China, whether it's due to local officials, or plant staff/managers engaging in IP theft, running off unauthorized stock for back-channel sales, etc. Companies endured it for years because supply chains were established, factories paid for, and first and foremost, labor was cheap. Now, even Chinese factories are moving to these countries to get around high labor costs and other issues.
They'll still gladly sell their stuff in China, but they are making less and less there. That is a drain on the economy at large, because there are fewer jobs.
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