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


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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