Jun 4, 2013

After the end of World War II, there was an abundance of low-cost labor in Japan, so that’s where manufacturing moved. But as the Japanese economy recovered and the standard of living went up, the cost of making goods also went up. So low-cost manufacturing moved to South Korea. After “the miracle of South Korea,” it moved to Taiwan. When the standard of living went up there, manufacturing moved to the province of Shenzhen in China.