Robots will make it even harder for poor countries to get rich

The problem is that if robot labor is cheaper and more reliable than human labor, why bother with the latter? The payback period for industrial robots (the time it takes for their extra costs to be paid off) is falling sharply. For a welding robot to be used in a Chinese factory, for example, the period has fallen from 5.3 years in 2010, to 1.7 years in 2015, say analysts from Citi. By 2017, they say it could be as low as 1.3 years. And more robots in factories equals fewer jobs for humans.