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news@hexbear.netEnglish · 3 months ago

China is becoming a 'factory to the factories,' powering global manufacturing in places like Southeast Asia even as U.S. trade declines

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China is becoming a 'factory to the factories,' powering global manufacturing in places like Southeast Asia even as U.S. trade declines

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news@hexbear.netEnglish · 3 months ago

China is becoming a 'factory to the factories,' powering global manufacturing in places like Southeast Asia even as U.S. trade declines | Fortune

China stepped up to diversify its trading partners, and mostly with emerging economies,” says McKinsey's Jeongmin Seong.

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Modern industry had therefore itself to take in hand the machine, its characteristic instrument of production, and to construct machines by machines. It was not till it did this, that it built up for itself a fitting technical foundation, and stood on its own feet.

Marx, Capital Vol. 1, Chapter 15 Section 1

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