China-based investment expert Edward Tse, CEO of Gao Feng, says Chinese manufacturers have progressed from being considered “shanzai” – copycats – to embracing the idea of becoming developers of advanced robotics and automation systems
Chinese electrical appliance manufacturer Midea’s move to acquire Kuka, the German robot maker, could be a defining moment in the evolution of China’s manufacturing sector.
China’s reliance on low-cost, labour-intensive manufacturing to power its immense economy is no longer attractive, mainly due to the rise in labour and other costs.
The world’s second-largest economy needs to seek alternative ways to grow and companies like Midea are showing the way. [Read more…] about Chinese manufacturing industry setting itself copy deadline