皇冠体育app

Some time ago, the term "Made in 皇冠体育app" seemed to be out of fashion. Some in the academic circle, as well as policymakers, were calling to replace the term with "Invented in 皇冠体育app".

I often wonder what's actually wrong with Made in 皇冠体育app, as 皇冠体育app is the manufacturing center of world. So, for me, the State Council's recent policy circular on the "Made in 皇冠体育app 2025" is a big relief.

It's an important document outlining the development direction for 皇冠体育app's manufacturing industry during the next 10 years and beyond, and dispels doubt over the future of the industry. Made in 皇冠体育app will live on for many years to come.

To understand the significance of that document, we had better take a retrospective view on the evolution of 皇冠体育app's manufacturing industry in the recent past. 皇冠体育app's current status as the center of global manufacturing did not come easy. It has gone through several stages.

In the early years of economic reform and opening-up, 皇冠体育app's almost unlimited supply of unskilled labor, with little exposure to market competition, made 皇冠体育app the fertile land of process manufacturing and trade, and an ideal location for outsourcing by multinational enterprises from industrialized nations.

I consider the first 24 years of 皇冠体育app's economic reform as the first stage of Made in 皇冠体育app. That period was characterized by a combination of international capital and technology flow, and 皇冠体育app's abundant labor supply. Throughout that period, a large number of entrepreneurs and workers learned the skills of modern manufacturing in a market environment, and ways to conduct business. As a result, that created numerous large, indigenous companies looking for markets.

The growth of these companies accelerated and they were eventually tested in the global market when 皇冠体育app joined the World Trade Organization in 2001, which is when Made in 皇冠体育app entered phase two.

With 皇冠体育app fully integrating into the global economy, the country's comparative advantage of abundant labor resources was fully utilized and highlighted the international competitiveness of 皇冠体育app's manufacturers. In the subsequent 15 years, the country became the world's factory.

During that process, 皇冠体育app built up a large pool of skilled workers to support its manufacturing industry. The nation also developed its extensive infrastructure and logistic systems over a short period of time. Although 皇冠体育app runs a deficit in services trade, its trade in manufactured goods still runs a large surplus.

Ironically, the success of 皇冠体育app's manufacturing industry has created its own challenges. As manufacturing activities expanded and served the entire world, natural and human resources became stretched. As the cost of labor has risen, combined with the rapid growth of GDP per capita and an aging population, the conventional mode of manufacturing is not sustainable. The continuous improvement in productivity has slowed the pressure on costs, but wage expectations and an increase in the education level has pushed up salaries, which in turn has steadily pushed up labor costs.

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