A New Wave of Industrialization, China's Economic Development

📖 The Scoop

China's economy is undergoing a transformation from low-end manufacturing to middle- and high-end industry. They moved some labor-intensive manufacturing to neighboring countries. Phasing out high-polluting industries and low-paying jobs.
Intensify the development of high-end industries, such as: High-speed trains, new energy vehicles on the ground; shipbuilding, submarines at sea; drones, airplanes in the sky; satellites, space stations, aerospace in space.
In manufacturing, the rapidly growing semiconductor industry, solar panels, machine tools, heavy drilling machines, earth moving equipment, port moving facilities, nuclear power generation, etc.
In construction, through the Belt and Road initiative, building roads, bridges, railways, airports, seaports, electricity supplies, water supplies, in more than 140 countries.
All the fields above were previously produced by developed countries. The new wave of industrialization, which has an increasingly greater impact on Western countries, will be a challenge in the future, find out more...

Genre: Business & Economics / Entrepreneurship (fancy, right?)