Zhejiang, one province in China, will pilot a novel solution to rising worker wages: investing $82 billion over five years to help local factories partially automate production processes. In Zhejiang province, average assembly-line wages nearly tripled from 2005 to 2012, from $2,425 to $6,750 per year.
And Zhejiang officials aren’t alone in their thinking.
China is already the world’s fastest-growing market for industrial robots, according to the International Federation of Robotics, an industry group based in Germany. Robot sales to mainland China have increased 25 percent, on average, every year from 2005 to 2012, reaching 23,000 robots last year. Only Japan purchases more robots than China annually. The IFR predicts China will be the top market by 2016.
How many trillions will China spend for fully automated factories loaded with factory robots ?
This also answers any doubters of a heavily robotic future.