News Sharing - Dr. Jenny Chan interviewed on CNBC's "Why China is spending billions to develop an army of robots to turbocharge its economy." 28 June 2018 by Joshua Bateman
Dr. Jenny Chan interviewed on CNBC
Why China is spending billions to develop an army of robots to turbocharge its economy
28 June 2018
• Chinese President Xi Jinping has called for a robot revolution in manufacturing to boost productivity.
• Wages in China are rising, and it's becoming harder to compete with cheap labor.
• An aging population in China also necessitates automation. The working-age population, people age 15 to 64, could drop to 800 million by 2050 from 998 million today.
• Chinese robotic growth is forecast to exceed 20 percent annually through 2020.