China poised to take over world’s manufacturing

October 13, 2002 | Source: KurzweilAI

China is poised to take over the world’s manufacturing; individuals outside of China will be displaced on a large scale, according to the Oct. 11 Gilder Friday Letter from Gilder Publishing.

Reasons: some 18 million people enter the work force each year, typical wages are 60 cents a day, 700,000 engineers a year are trained and paid $4,800 to $8,800 a year, and there’s a “high-pitched level of capitalistic energy.”