China’s transition to innovation and IT market

Aravind Yelery


China is transforming from being global factory to global centre for
innovation and IT industries. Chinese manufacturing industry was hit
hard during the Asian crisis of 1997 and later in 2008 when global
recession hit the Chinese manufacturing- based export industry (see
Graph 1). The buyers from the developed countries refused to pull the
stocks and the manufacturing towns faced harsh conditions (China
Daily; 2008). Chinese manufacturing industry feeds 100 million of migrant
workers. Chinese government had been working rigorously to
evade any such catastrophe by pushing a soft skill industry model.

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