U.S. manufacturing hasn’t been the same since China opened its doors to the West. For the last two decades, China’s economy has grown on an average of nearly ten percent each year. Hundreds of millions of Chinese peasants have found new jobs in factories that churn out nearly everything Americans wear and use in their daily lives.
Early on, some major U.S. companies saw China’s labor force as a way to cut costs. They also imagined a day when they could sell products to China’s 1.3 billion new consumers. But as American companies are forced to move overseas to compete and millions of Americans lose their jobs, many wonder how long this migration can continue — and what if anything can stop it.
Hear a discussion on China’s explosive economic growth and what it means for the economic future of America.
Guests:
Ed Kiniry, Owner of Tubbs snowshoes
Haysun Hahn, Director of Futuremode Inc.
Wei Zhu, Shanghai-based Managing Partner of Roland Berger.