China Quote by Michael Spence
“China's continued growth and rising household income are creating opportunities for lower-income economies in low-cost manufacturing.”
About This Quote
Source Report: World Bank Global Economic Prospects, 2023
Higher incomes in China boost demand for cheap goods, helping poorer manufacturing nations grow.
In simple terms: China’s growth helps low‑cost producers.
Leverage rising demand in emerging markets.
Themes
Mood
Type
When to use this quote
- export expansion
- foreign investment
- industrial policy
- market entry strategies
Key Concepts
Questions to Reflect On
- How can low‑income economies sustain growth?
- What risks do they face from dependence on China?
Benefits may be uneven if wages rise or protectionism increases.