US says China's World factory era ends US companies seize opportunity to profit

Global network reporter 王欣 reported that as China's economic development accelerated, Western public opinion began to recognize China as a "world factory" era is coming to an end.　　China, whether or not the world's factory, will still give American companies a lot of growth opportunities, the US company's "China pass" bosses should seize the opportunity to create value, the Forbes magazine said in an January 11 local time. The Forbes article points out that China's 12th five-year plan is constantly calling for innovation, a service-oriented economy and boosting domestic demand, and suggests that China needs to build a manufacturing sector with higher value-added. It's time for Chinese companies to "start hiring smart Labor". The result is that China has shifted low-wage jobs to less developed countries.　　It also heralds the end of China's "World Factory" era. In fact, no other country has yet replaced China's "World Factory" status, the article said. China's hardware infrastructure can be manufactured and transported on a huge scale, but not in other countries. At the same time, governments in developing countries often lack the ability to provide strong support for the growth of low-wage manufacturing for decades in a row.　　In this environment, the relocation of manufacturing centres will take time. In this environment, American enterprises can create new value by repairing the severe degraded environmental landscape in China, creating services to meet the needs of the elderly population or setting up legal and organizational models to support white-collar economic development. Whether or not they still have the name "the world's Factory", China still means an opportunity for growth.