MA International Business Assignment - The Transformation and Upgradation in Chinese Manufacturing Industry. Chinese Manufacturing transformation and upgradation – Manufacturing is defined as the processing of raw materials obtained from the earth for the production of new, innovative, and useful products. Organizing and modernizing the manufacturing industries in a country promotes economic growth, eradicates unemployment and poverty, introduces advanced technologies and innovative products, and brings a lot of foreign exchange by exporting the local manufactured goods. World’s most developed economies today have stabilized their industrial networks to encourage goods production at national level. In this way, these countries are generating large revenues every year by selling their products worldwide. According to Engels, industrial revolutions transform the living conditions of the community and lead to innovation. The modern technology and current progress in China is the ess
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