Ever since the Industrial Revolution sparked the development of modern industrial production practices, the paradigm of manufacturing has been dominated by a linear model. In the linear production model, raw materials are extracted from resource countries, transported to manufacturing powerhouses, such as China, and processed into various products. The finalized products then get shipped to … Continue reading »
manufacturing
As manufacturing economy matures, China must turn to services sector for growth
China is getting its exchange rate adjustment whether it likes it or not. While Chinese officials continue to mull the right time to let the renminbi rise, manufacturing workers are voting with their feet — and their picket lines. Honda has offered its transmission factory workers in China a 24% wage increase to head off … Continue reading »