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Guru says China to lose labor advantage
By Wang Yanlin |
April 27, 2012, Friday
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Online Edition
Online Edition
CHINA will continue to hold the title of the world's biggest labor market, but will gradually lose the advantage brought by low labor costs and soon see an outflow of investment, predicted Kenichi Ohmae in Shanghai today.
Dubbed "Mr Strategy," Ohmae said that Chinese companies should become more global.
"Although China's economy has shown signs of a clear slowdown, the country is still solid in economic fundamentals," Ohmae said at the Asia Pacific Innovation Forum 2012, organized by the Overseas Education College of Shanghai Jiao Tong University.
"China will possibly become the world's biggest economy, together with the United States, in 2030. By then the Japanese economic output will be only 20 percent that of China," Ohmae said.
Dubbed "Mr Strategy," Ohmae said that Chinese companies should become more global.
"Although China's economy has shown signs of a clear slowdown, the country is still solid in economic fundamentals," Ohmae said at the Asia Pacific Innovation Forum 2012, organized by the Overseas Education College of Shanghai Jiao Tong University.
"China will possibly become the world's biggest economy, together with the United States, in 2030. By then the Japanese economic output will be only 20 percent that of China," Ohmae said.
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