China is known for manufacturing cheap products, thanks largely to the country's vast supply of low-cost workers. But China is changing, and the glut of cheap labor that has made everyday low prices possible is drying up, as the Chinese people seek not to make iPhones, but to buy them. This evaporating labor pool will disrupt supply chains and consumption habits around the world.
Rein takes an engaging and informative approach to examining the changes taking place across all levels of Chinese society, talking to everyone from Chinese billionaires and senior government officials, to poor migrant workers, and even prostitutes. He draws on personal stories and experiences from living in China since the 1990s, as well as hard economic data. Each chapter focuses on a different aspect of China's transformationfrom trailblazing Chinese companies to newly employed Chinese women to the role of China's governmentand at the end breaks down key lessons for readers to take away. You'll learn:
- How rising labor and real estate costs are forcing manufacturers of cheap Chinese products to close, relocate, or move up the value stream
- How China's move away from exports to domestic consumption will create opportunities for foreign brands to sell products in China rather than just producing there
- How Chinese consumption will build pressure on the global commodities markets, causing both inflation and friction with other nations
- How China's economic transformation spells the end of cheap consumption for Americans
China's days as a low-cost production center are numbered. The End of Cheap China exposes the end of our consumerist way of life, and gives clear advice on how companies can succeed in the new world order.