Why China is spending billions to develop an army of robots to turbocharge its economy

In 2014 Chinese President Xi Jinping called for a "robot revolution" in manufacturing. It's now under way and boosting productivity, but there are adverse consequences. After decades of growth, rising wages are consuming profits and pushing manufacturing to Southeast Asia. Shanghai's minimum monthly wage, for example, the highest in China, is 2,420 yuan (US$366.62), "They realize you cannot just compete with cheap labor. You have to elevate the manufacturing capabilities as a whole," said Jing Bing Zhang, research director of market intelligence and consulting firm IDC.