'Six cities in Liaoning province, including Shenyang and Anshan, recently announced they are converting abandoned industrial sites to farmland. Dongguan, once a booming factory center, is on the verge of bankruptcy as companies close, leaving the local government severely cash-strapped.
Just two years after China overtook the U.S. to become the world's largest manufacturer, the country faces the prospect of decades of de-industrialization.'
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Fifth, the most important factors in eroding China's competitive position involved the labor force, the reason why foreign companies moved to the country in the first place. For one thing, the world's most populous country, paradoxically, began to run out of people.
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