Total reliance on anything is generally to be avoided, but relying on something that shows signs of vanishing comes either from a misunderstanding of the present, or an ignorance of possible future scenarios.
Long-term reliance has a slow, grinding positive feedback loop that in time can become a dependency, and actually preclude the vision necessary to see other alternatives.
We know that the momentum of high-speed travel makes it hard to change direction, or even to see clearly where you are going. In the same fashion China’s high-growth economic trajectory, and low-cost labor model, may fit the bill for a blind-spot when it comes to the future. This is not the least of China’s many Black Swans, but it is a big game-changer.
The source of the reliance is the well over 100 million people who make up China’s production line workforce. Clearly, it is impossible for anyone to summarize the lives of these hard-working people, but the commonalities are there, and could be worth exploring. keep reading…