Part 1/6:
The Shifting Tides of Global Manufacturing: China's Decline as the Factory of the World
A Once Unassailable Dominance
For decades, China occupied the coveted position as the "factory of the world," a title earned through its expansive manufacturing capabilities, cost-effective labor, and strategic infrastructure. This status made China the go-to hub for multinational corporations looking to produce everything from electronics to apparel at scale. The global supply chain depended heavily on Chinese factories, and businesses worldwide benefitted from cheap, reliable production.