> In 50 years there will be literally nothing left that China doesn't do better than the west
This is not at all obvious or inevitable. The exact same concerns where voiced when much of the electronics industry moved to Japan 30 years ago, but "Japan doing everything better than the west" never really happened.
China is facing the exact same challenges that made US, EU, Japanese and Korean industry stumble before: Your own success raises wages and living standards, which inevitably decreases competitiveness. China still has a lot of catching up to do (in living standards/median income) and despite that it already struggles in some sectors to compete with countries like Vietnam or Indonesia.
China is facing the exact same challenges that made US, EU, Japanese and Korean industry stumble before: Your own success raises wages and living standards, which inevitably decreases competitiveness. China still has a lot of catching up to do (in living standards/median income) and despite that it already struggles in some sectors to compete with countries like Vietnam or Indonesia.
And that's totally fine to Chinese people. They don't want to work in a factory forever. They too, would like cushy office jobs.
This is not at all obvious or inevitable. The exact same concerns where voiced when much of the electronics industry moved to Japan 30 years ago, but "Japan doing everything better than the west" never really happened.
China is facing the exact same challenges that made US, EU, Japanese and Korean industry stumble before: Your own success raises wages and living standards, which inevitably decreases competitiveness. China still has a lot of catching up to do (in living standards/median income) and despite that it already struggles in some sectors to compete with countries like Vietnam or Indonesia.