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”
But they cannot sell them all. Eventually the well runs dry and they will have overstock and the wave will come to shore. The cracks in the foundation seem to be there. But I may be, and probably am, wrong. I studied engineering, not geopolitical based economics.