nt history, the relocation of some manufacturing industries from
上海龙凤1314China to overseas destinations is inevitable given the extent of China’s development. On the other h
and, this phenomenon does not mean China will lose its manufacturing and economic power.上海龙凤1314品茶微信
During the previous five industrial migrations, the economic development of the leading countries that hosted such industries didn’t stop after
some of the traditional sectors relocated to other countries. Instead, they soon saw the rise of new industries, high-end m上海龙凤1314
anufacturing and the service sector－and they are still developed economies. For example, the US is still the world’s larg
上海龙凤1314品茶微信est economy even 60 years after the third industrial migration, while Japan, Germany and Britain are ranked among the
top seven economies in terms of size and quality even decades after the industrial migration.上海龙凤1314
Relocation speed and scope not alarming
As a country with the world’s largest population, the third-largest territory, and the longest continuous上海龙凤1314
economic growth curve, China’s case will be the same even after the relocation of some of its manufacturing industries.
First, as mentioned above, the speed and scope of the manufacturing units’ relocation from China are not as fast and large as s
上海龙凤1314品茶微信ome people imagine. The industrial relocation from China started after the 2008 global financial crisis br
oke out, accelerated in 2012, and gained pace last year due to the Sino-US trade conflicts.
But the consequences are not expected to be very serious. For instance, from 2008 to 2018, global trade grew at an annual aver
age rate of 2.4 percent, while China saw 6.3 percent annual average export growth, which shows China’s export g上海龙凤1314品茶微信
rowth has been not only steady, but also 3.9 percentage points higher than that of global trade.
As a result, the share of China’s exports in global exports rose from 8.9
percent in 2008 to 12.9 percent in 2018, an increase of 4 percentage points. Which is a clear indica上海龙凤1314
tion that the relocation of manufacturing industries from China is not fast enough to make us feel worried.
Second, the rapid rise of emerging manufacturing industries in China will to a large extent offset t上海龙凤1314
he impact of the relocation of low-end industries on its entire manufacturing industry and e上海龙凤1314品茶微信
conomy. Therefore, China will continue to be a manufacturing and economic powerhouse.