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          Manufacturing is the only way to achieve economic prosperity
          Author:管理員 ?? Posted on:2020-12-14 09:11:57 ?? 文字:【big】【medium】【small】Browse (188)
          Summary:Think of those countries that have successfully escaped poverty. You may naturally think of this picture: the supply of cheap labor is oversupply, the industrial transformation is beginning to move from agriculture to industry......

          Think of those countries that have successfully escaped poverty. You may naturally think of this picture: the supply of cheap labor is oversupply, the industrial transformation is beginning to move from agriculture to industry, and economically inefficient farms are replaced by factories that produce textiles and clothing. Over time, this transformation has gradually increased the productivity and wage levels of the entire economy, and the country’s production and export sectors have also begun to shift to more complex goods and services.

          For countries like India, Ethiopia, Nigeria, and Honduras, manufacturing will still be part of their national development story. But the current goal of developing countries is to achieve greater value-added in agriculture, industry, and service industries and improve their international competitiveness.

          In the past few decades, this situation has been widespread. South Korea is a good example: In the 1950s, most of the South Korean population was still working in agriculture. Ten years later, the exports of South Korean manufacturing turned to textiles, clothing, footwear and wigs. After two generations of efforts, South Korea has become the world's fifth largest exporter of goods and the ninth largest importer of goods in 2017. Even if the mobile phones and household appliances in your hand are not manufactured by South Korean companies, they must contain integrated circuits made by South Korea. . (Test article)

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