This is pretty scary scenario for the poorest nations in Asia and Africa.

Here in Taiwan, we can see how industrialzation has lifted US out of poverty since the 1960’s. Stagnation will follow now that robots will do all menial labor jobs in Factories.

https://www.bloomberg.com/news/features/2017-06-21/this-economic-model-organized-asia-for-decades-now-it-s-brokenEM

Today, Bangladesh, Cambodia, and Myanmar are in the early stages of climbing that ladder—but automation threatens to block their ascent. Instead of opening well-staffed factories in these countries, Chinese companies that need to expand are building robot-heavy facilities at home. “The window is closing on emerging nations,” says Cai Fang, a demographer in Beijing who advises the Chinese government on labor policy. “They will not have the opportunity that China had in the past.”

Advertisements