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Upscale China Fast Replacing Cheap China

 

China is at a crossroads, reinventing itself from a manufacturing powerhouse to a consumer-oriented economy. Due to rising production costs and slowing overseas demand, factories are moving to higher value added production, while domestic consumption is increasing at a fast pace.

In an interview with Global Sources, Shaun Rein, author of The End of Cheap China: Economic and Cultural Trends that will Disrupt the World, sheds light on the global impact of China’s economic transformation in coming years.

 

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