The company known for making iPhones, Foxconn, is implementing plans to replace at least 30% of its factory workers by 2020. Some factories are already so heavily automated that they’ve eliminated 60,000 jobs. Considering that Foxconn has 1.2 million employees, there is a potential job loss in the hundreds of thousands. There’s no reason to expect that trend to stop after 2020. Assuming things go well for the robotic factories, competitors are expected to automate similarly. The consequence within China alone is millions of displaced workers.
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