In recent weeks, many in the U.S. have been wondering if this century will be China’s. Podcaster Derek Thompson put it well: “Some people are still stuck in a mode of thinking about China as being a place that just makes things of little value and significance. But 'Made in China' means something different now."
China builds more than any other country; it produces 20 times more cement and 13 times more steel than the United States. The Asian giant is leading in key technologies for the future: it manufactures 66% of the world’s electric vehicles, 75% of batteries, and 90% of solar panels. And it is at the forefront of robotics.
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| New installations of industrial robots in 2022 (thousands) Source: International Federation of Robotics |
In 2012, China installed around 25,000 industrial robots per year, on par with Germany, Japan, and the United States. What about 10 years later? Now China installs 10 times more robots than any of those countries individually. The leap is spectacular.
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