Are these ideas really based in reality? Is it mostly stereotype?
In: Economics
That was true decades ago when manufacturers turned to China for low skilled labor. But it’s no longer true as China has advanced over the decades. Now manufacturers turn to Apple for their skilled labor to produce precision manufactured products that they can’t get anywhere else at any price.
Here’s a quote from Tim Cook.
“There’s a confusion about China. The popular conception is that companies come to China because of low labor cost. I’m not sure what part of China they go to, but the truth is China stopped being the low-labor-cost country many years ago. And that is not the reason to come to China from a supply point of view. The reason is because of the skill, and the quantity of skill in one location and the type of skill it is…The products we do require really advanced tooling, and the precision that you have to have, the tooling and working with the materials that we do are state of the art. And the tooling skill is very deep here. In the U.S., you could have a meeting of tooling engineers and I’m not sure we could fill the room. In China, you could fill multiple football fields…”
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