Rising wages in China will disrupt supply chains and consumer habits worldwide, tells business analyst Shaun Rein, author of “The End of Cheap China: Economic and Cultural Trends that will Disrupt the World“ in IFW.
In his recently-released book [Shaun Rein] suggests companies may need to rethink their strategies and shift manufacturing to lower-cost production centres like Vietnam or Indonesia – “or even back to the United States in some cases”.
On the flip side, he emphasises that China has become the market to sell into, rather than one to produce in.
“China is known for manufacturing cheap products, thanks largely to the country’s vast supply of low-cost workers. But China is changing, and the glut of cheap labour that has made everyday low prices possible is drying up, as the Chinese people seek not to make iPhones, but to buy them.”
Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers’ request form.
More about Shaun Rein and “The End of Cheap China: Economic and Cultural Trends that will Disrupt the World
” in Storify.
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