Lewis Turning Point: Rising Wages and Robot Demand in China

This video from the Wall Street Journal explores the rising demand for industrial robots, particularly in China which is in turn partly the response to fast-rising wages in China as the economy reaches the Lewis Turning Point.

A recent Deloitte Monday Briefing on China made reference to the Lewis Turning Point. It argued that "In the early stages of industrialisation growth is driven by channelling cheap labour and capital into the economy. Now China’s workforce is shrinking and labour costs are rising fast. China’s advantage as a low-cost manufacturing hub has been eroded."

Greg Ip calls this video the most fruitful use of nine minutes you will have for some time!