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China robots displace workers as wage spiral pressures profits

China robots displace workers as wage spiral pressures profits
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As he marches through a gritty factory that makes baby strollers and wheels, Hu Chengpeng says finding workers is his number one challenge these days. Turnover at the facility in Hanchuan in Hubei province in central China is running at 20 percent, even while wages have been growing by double digits for his 400-plus workers every year. “Labor costs are getting just too high,” he said.

Read more at https://www.bloomberg.com/news/articles/2017-07-02/china-robots-displace-workers-as-wage-spiral-pressures-profits?cmpid=socialflow-facebook-asia&utm_content=asia&utm_campaign=socialflow-organic&utm_source=facebook&utm_medium=social

SOURCE: Bloomberg News

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