Two years after author Shaun Rein published his book The End of Cheap China, the country´s manufacturers start feeling the pain from export moving to cheaper countries. This painful adjustment might take another 3-5 years, he tells Bloomberg.
Bloomberg:
Rising wages and business costs that include compliance with environmental regulations are squeezing manufacturers’ margins, said Shaun Rein, author of “The End of Cheap China: Economic and Cultural Trends That Will Disrupt the World.”…
The slowdown in growth, along with rising wages, means manufacturers still face a three-to-five-year adjustment that will cause “serious pain” and “economic dislocation” in manufacturing provinces including Zhejiang and Guangdong, said Rein, managing director of China Market Research Group in Shanghai.
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