How A Foxconn Executive Views China, Technology, And The Sorry State Of The US Economy

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If you don’t want to be jealous, don’t start reading the blog of physicist of Steve Hsu. His photography alone from his travels is awesome, and as a professor at the University of Oregon, currently studying in Asia, he’s got a great sense of how things are happening in the world.

In a recent post, he interviewed his uncle, a Foxconn (the maker of iPad and iPhones) executive, about how he sees China, the US and the global economy. There’s some good stuff in there:

  • Foxconn has recently had to almost double wages.
  • Its headcount is now well over 1 million.
  • Foxconn is planning to expand into interior China, and not into neighbouring countries like Vietnam, due to their lack of infrastructure.
  • Chinese engineering graduates are smart but “poorly trained” meaning they lack practical knowledge, which can be learned in a few years on the job.
  • As for the US, the technological edge is clearly fading, and he doesn’t see good prospects for US competitiveness. Beyond that, the main advantage the US has — innovation — is being sapped away by the Chinese companies that do manufacturing for the US.

Click here for 15 facts about China that will blow your mind >

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