A declining population may impact domestic consumption, but I also believe the industrial base should keep rolling like you said, because of
automation. In fact record numbers of robots are being added every year. Say in 2020
China Mainland alone accounted for 44% of world's total installations, even more than the next four industrial powers combined (Japan, US, South Korea & Germany totaled 28%). These hard facts are seldom reported by western media for obvious reasons, as if China has not already risen in
technology & industrial competitiveness, instead they pretend to ask sneaky question on false premise like whether China "can rise" or not, they are good at that.
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This trend is expected to continue until density of robots reaches industrial level of SG/SK sometime around 2030. With both the agricultural and industrial sectors increasingly intelligent & automated, more population will be engaged in services sector, R&D.
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