‘What I see in China now just staggers me:’ Charlie Munger

Charlie Munger, Daily Journal Chairman and Berkshire Hathaway Vice Chairman, discusses Chinese automation and progress.

Video Transcript

CHARLIE MUNGER: Nobody else has ever taken a big country out of poverty so fast and so long. And what I see in China now just staggers me. There are factories in China that are just absolutely full of robots are working beautifully. They're no longer using peasant girls to beat the brains out of our little shoe companies in America. They are joining the modern world very rapidly and they're getting very skillful at operating.