Sunday, May 15, 2016

China robot fact of the day

FT points to a study by Mirae Asset Management which finds a remarkable similarity between the robot penetration trends in China and Japan.
It calculates that robots will displace 3.5 million Chinese workers over the next five years. This comes on the back of other findings that three-quarters of China's jobs are at a "high risk" of computerization. And given the rapidly increasing Chinese wages - rising at an annual rate of 17% in the decade to 2012 - its manufacturers believe that automation is the only way to increase productivity and retain their competitiveness. 

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