As of late, people all over the world are taking notice how China has become a leader in the port industry. For an example, in 2016, August 10th, if I got the date right, Chinese shipping group, China Ocean Shipping Company (Cosco), completed the majority purchase of Greece’s Piraeus port. Since then, Cosco has turned Piraeus into one of the leading ports in the world. Just now, China is taking its port business into the next level by turning a terminal at Port of Qingdao into a fully automated container terminal. This means no human involvement is needed on most of the port container activities at this terminal. Well, you get a better idea if you watch the video right after the break.
As China is continuing to automate its industries, I wonder how will they cope with more unemployment. On business level though, things will be a lot more efficient in productivities and costs, but at what costs to the traditional social values such as full employment? Of course, certain traditional social values can always be updated or let go, but employment is one of the things that help put foods on the table for a modern fellow. Without employment, one would go hungry pretty fast or whatever a bad case that would be.
With roughly 1.4 billion plus population, if I’m not off on the number, China would be in big trouble if so many people won’t be able to find jobs. Automation will definitely create unemployment problem to be even more acute than ever before. Right now though, opportunities seem to be abundant in China still, because even some foreigners are leaving their home countries to travel to China for job opportunities. Nonetheless, once automation becomes evermore prevalent in China, I wonder how the opportunity picture in China would form. I can see the applications of automation will make China be evermore competitive in many global industries. In this case it would be all about the port/shipping industry.