And, a recent tour of one of the Asian powerhouse’s vehicle plants has proved this beyond a shadow of a doubt, at least to Honda President and CEO Toshihiro Mibe.
“We have no chance against this,” Mibe said upon a visit to a Shanghai parts factory, commenting on its seamless automation across all levels of production. Logistics, procurement and all aspects of the process were so automated, in fact, that he did not spot a single human worker on the supplier’s floor.
Ford executives saying even three years ago that China was way ahead of the game
Toyota’s CEO has likewise said regarding not just his company, but the industry in general, “unless things change, we will not survive”
They will be fine, the USA will just bail them out again and again
The USA has not been a leader in production of goods for a very long time, since the 70s for some industries. They have survived by having massive amounts of buying power.
The us is now running out of that power since about 2015. They will soon not have the option of bailing out companies.