5 Reasons Why Chinese Manufacturing Will Decline Rapidly
Commentary
China has always been considered a major manufacturing country, playing a pivotal role in the global industrial division of labor. However, I believe we will see a rapid decline in Chinese manufacturing, and China will lose its status as “the world’s factory.”
Here’s why.
Population Crisis
On Jan. 17, China’s National Bureau of Statistics released the latest population statistics, which show that 9.56 million people were born and 10.41 million died in 2022, a population decline of about 850,000 in one year. The last time China’s population declined was 60 years ago when the “Great Famine” caused the population to drop by 5.4 million in 1961. Unlike the previous population decline, this one is irreversible, meaning China’s population will continue to decline….