China is considered to be the fastest growing economy, but things are not as simple as they look. Attracted by subsidies, cheap labour, and tax regulations, several American-based manufacturers shifted their business to China in the recent years.
However, the situation has changed now. The manufactures, who brought millions of jobs to China a few years ago, are mulling over taking all the setup back to homeland due to rising labour costs, concerns over government-sponsored I.P. theft, and production
Things are getting real tricky for the Asian giant, as Google has already decided to make its Nexus Q streaming media player in America. Apple and Nokia are also under severe pressure, and planning to make similar moves.
The technology has entirely changed the face of this earth. Without a shadow of doubt, the smartphones these days are much faster than the supercomputers of 1960s.
The latest technologies such as robotics, artificial intelligence (AI), 3D printing, and nanotechnology are extending their arms beyond the imagination of a common man.
The latest tricks of science have changed not only our living styles, but also the way of thinking. In this era of competitiveness, no company can afford even a slight mistake.
About 10 years back, one could hardly imagine robots performing surgery, milking cows, doing military reconnaissance and combat, and flying fighter jets. This is the tale of today, and much more is coming up tomorrow.
As far as manufacturing is concerned, China indeed is going through a bad spell. Taiwan-based Foxconn Technology Group, Chine’s largest manufactures, has already planned to use robots as labour, because it found the current labour in China too expensive
The example of the world’s most advanced car, the Tesla Model S, is also in front of our eyes. The Silicon Valley-based manufacture is still making money, just because that it uses robots to do the assembly.
The thought of Artificial Intelligence (IA) has further twisted the whole scenario. Now the computers can perform duties in far better way than humans. This idea hit the headlines in 1980s, but it didn’t spark as expected.
Nevertheless, it is making it way, and playing a big role at the moment. Even the best of companies like Facebook and IBM are taking advantage of Artificial Intelligence in different ways. The man will see further developments in the coming days.
Coming back to the topic, we are not reluctant to say that the industry will return to America one day or another. The policy makers in China need to pull up their socks, and take some serious steps quickly.
Otherwise, the situation will continue to get worse. With robots replacing humans, not only China but the entire world needs to work on creating new jobs for humans in order to avoid another massive recession.