In recent years, discussions surrounding China's manufacturing industry have continued to heat up in international public opinion. The logic behind the “Chinese industry is stealing other countries' cakes” is to view the global manufacturing industry as a “cake” of limited size. It seems that the Chinese manufacturing industry continues to advance towards the middle and high-end while maintaining a huge scale of traditional manufacturing, which will reduce the industrialization space of other developing countries. In May of this year, researchers at the Peterson Institute for International Economics published an article proposing the so-called “China squeeze,” arguing that the competitive advantage of China's manufacturing industry is making it difficult for some middle- and low-income countries to industrialize through labor-intensive manufacturing. This is clearly an overly simplistic judgment.

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