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HUIZHOU, China (Reuters) - Eight years ago, Pascal Lighting employed about 2,000 workers on a leafy campus in southern China. Today, the Taiwanese light manufacturer has winnowed its workforce to just 200 and leased most of its space to other companies: lamp workshops, a mobile phone maker, a logistics group, a liquor brand.
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I think China has severe problems on the horizon they aren't talking to anyone about.
Reminds me of China in 1988 just before the collapse they still haven't gotten over.
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And the workforce has changed. China's working age population began to contract in 2012. The number of strikes more than doubled last year compared to 2013. Jobs have shifted into the services sector. And labour costs have more than quadrupled in US dollar terms since 2005, according to the Economist Intelligence Unit.
Many factories moved from coastal provinces to inland China. Even Samsung just built a big plant in Shaanxi (western China), not in coastal provinces like Guangdong or Fujian. Foxconn (manufacturer for Apple, Dell, etc.) built plants in Sichuan and Henan.
It will work out. China made things on the cheap. They sold lots of it but the people of China still couldn't afford it.
Wanting some of what they were making for others they wanted more money. Some jobs came back here and others were cut to do this.
Once the Chinese start making more money they will start purchasing things which will cause their factories to ramp up again.
Not quite true.
Do you know China is the largest smart phone market in the world?
GM sold more cars in China than in the US in recent years, so did many other companies. For example, in 2013 GM sold 874,948 cars in China, while 668,619 in the US.
Not quite true.
Do you know China is the largest smart phone market in the world?
GM sold more cars in China than in the US in recent years, so did many other companies. For example, in 2013 GM sold 874,948 cars in China, while 668,619 in the US.
None of those were sold to factory workers making a couple bucks an hour.
Not quite true.
Do you know China is the largest smart phone market in the world?
GM sold more cars in China than in the US in recent years, so did many other companies. For example, in 2013 GM sold 874,948 cars in China, while 668,619 in the US.
Cell phones are cheap, though. It's 2015 not 1985. You can't use them as evidence of prosperity.
None of those were sold to factory workers making a couple bucks an hour.
China has a growing middle class. They are the ones to buy new cars.
Very few factory workers keep working in the factory for decades either. In China, most migrant workers save money to start their own (small) business in their hometown.
Cell phones are cheap, though. It's 2015 not 1985. You can't use them as evidence of prosperity.
They are cheap, but they are also changed every two years.
Maybe a few hundred dollars is cheap for Americans, but not for people in most countries in the world.
BTW iPhone is more expensive in China than in the US, due to the tariff (ironically, huh?). The difference is about $200.
I think China has severe problems on the horizon they aren't talking to anyone about.
Reminds me of China in 1988 just before the collapse they still haven't gotten over.
Do you mean Japan in 1988? The "collapse" here is overblown. Even with a slow growing economy, Japanese living standards have steadily risen over the past 25 years. `People live in better houses now, drive on better roads and have a much better variety of shopping options.
China has a growing middle class. They are the ones to buy new cars.
Very few factory workers keep working in the factory for decades either. In China, most migrant workers save money to start their own (small) business in their hometown.
Many will work in the factories seasonally and go back to work the fields but that is the old way. As I said, as they start to make more money they will modernize.
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