Due to a shift in the Chinese economy and the country losing its competitive edge in manufacturing, China released its manufacturing plan, "China 2025", to help revolutionise its manufacturing industry and upgrade its technology. China has become an expensive place to manufacture items relative to nearby countries, such as Indonesia, Vietnam, India and Bangladesh, and the country's one child policy is shrinking its work force. Furthermore, China's young workers, faced with significant opportunities are reluctant to take manufacturing jobs, further contributing to labour shortages. The United States remains the world's largest producer of manufactured goods but it also produces some of the most innovative products on earth. " China 2025" hopes to add a higher degree of innovation, efficiency and quality control to help it compete globally in the following industries: information technology, eco-friendly cars, high-end ships, advanced robotics, and more.
Due to a shift in the Chinese economy and the country losing its competitive edge in manufacturing, China released its manufacturing plan, "China 2025", to help revolutionise its manufacturing industry and upgrade its technology. China has become an expensive place to manufacture items relative to nearby countries, such as Indonesia, Vietnam, India and Bangladesh, and the country's one child policy is shrinking its work force. Furthermore, China's young workers, faced with significant opportunities are reluctant to take manufacturing jobs, further contributing to labour shortages. Adding to China's manufacturing woes, Chinese companies often lack the brand power to be successful internationally, especially as many companies have a reputation for dubious quality. "China 2025" hopes to add a higher degree of innovation, efficiency and quality control to help it compete globally in the following industries: information technology, eco-friendly cars, high-end ships, advanced robotics, and more.