Opportunity Starts Here: A Major Shift in Manufacturing Power
If you’ve spent any time in China, know anyone from there, or have studied its recent history - you’re familiar with China’s former one-child policy. This rule affecting families across the nation until 2012 declared that each family is permitted a single child, and no more. What happened to those families that ended up with more than one child? Some were able to be passed on to child-free family members, some were sold, some were hidden, and others were killed because they were unable to be cared for safely.
Now, the tune has changed for the governmental policy. First, the one-child rule was lifted allowing families to have two children, but now over ten years later - not only are families allowed to have more than two children, it’s encouraged. The reason may surprise you. In the decades of the one-child rule, many families planned for what they believed would be homes with only one child. The economy of China has also contributed to expansion but the pattern of a single child per home for generations has led to the inevitability of a dwindling working class. A working-class that now carries ever-decreasing numbers.
China has been the world leader in manufacturing because of its massive population and technology. Whilst it’s technology is still improving every day, there’s nearly no labor force to support its plans to expand as a global superpower. What does this mean for countries looking to enter the international game through manufacturing? A door of opportunity has been swung wide open. There’s room in the manufacturing world for the first time in decades that’s waiting to be filled by countries, and companies with the capacity and labor force to pick up the slack.
Now is the time to make major moves for anyone in manufacturing - particularly in Africa as the wealth of natural resources stand to be a true asset. The Chinese government is working to rectify the situation with it’s dwindling working-class population. The primary barrier for the childbearing population of China is having to pick up the slack of the diminutive workforce. This means less time to make connections, find love, and reproduce; and even less time for child-rearing. The work ethic of China is world-renowned so while that hasn’t changed, the workday has. With some working 15-20 hours a day regularly, there’s little time for anything else - lending opportunities to new countries and firms to fill the gap.
So now’s the time more than ever to start researching opportunities and restructuring to enter a market ripe for new development. With the hole left by China’s dwindling manufacturing power, there’s never been a better time to get into manufacturing. Starting now, get prepared for an exciting new opportunity that could lead your business into major expansion. There’s a gap in the need for textiles, everyday needs, household appliances, and so much more. Our team of trusted attorneys has experience spanning 40+ countries and over 30 years.
If your business is looking to get into manufacturing you could be in for major expansion. Give us a call today to find out how we can help you enter or expand your market share in the manufacturing world and pick up some of the slack China is losing due to its quickly diminishing population. Visit the link below to get more actionable business news from your favorite international Business Law Firm, or scarcely a consultation.