Here’s an interesting morning snippet that’s doing the rounds of the Chinese dailies – apparently Justin Yifu Lin, a former chief economist at the World Bank – gave a speech yesterday at the annual China International Fair for Investment and Trade, in which he encouraged local manufacturers to consider moving labour intensive factories to the African continent. There’s been a lot of talk lately about the Chinese economy slowing down as labour costs rise, while Sino-African trade is booming. The sensible thing to do, says Lin, is to start outsourcing “low margin” production to Africa and focus on the top end of the skills chain in China.
From China Daily:
Read the full story over here.
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