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China's future, reshaped by robots

Automation may upend the prevailing wisdom

Tom Orlik | Bloomberg 

Speak to China experts these days and you typically get one of two contrasting views on its outlook. The prevailing wisdom is that an unreformed state-industrial sector and rising debt mean it is on an unsustainable path, with a financial crisis on the not-too-distant horizon. The optimists acknowledge that debt is too high, but hold out hope that a growing services sector will fuel stronger consumption, reducing the need for credit-fuelled investment and putting the economy on a sustainable path for the medium-term. What if they’re both wrong? That’s the possibility ...

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First Published: Thu, August 24 2017. 22:38 IST