else is making it reign supreme in manufacturing?
According to the narrator, China established special economic zones in the year 1978 to lure foreign investors. It includes cities like Shenzhen which are often known for being the global manufacturing capital.
China is home to the world’s most highly skilled workforce. This enables enterprises in China to produce goods fast and at lower price.
Its workers are also affordable when compared with the salaries companies pay in established countries like those of the United States and Germany, that’s why big companies such as Apple have partnered with Chinese enterprises to produce their products.
In addition to labor, the materials are also affordable as well. China This helps any business making products in China as opposed to any other other country.
China does not have tax burdens on produced goods for export; again, this reduces manufacturing costs for companies which then flow down to consumers and creates demand for Chinese manufactured goods.