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China Loses Its Edge as World's Factory

China Loses Its Edge as World's Factory | Business Brainpower with the Human Touch | Scoop.it
China is losing its competitive edge as a low-cost manufacturing base, new data suggest, with makers of everything from handbags to shirts to basic electronic components relocating to cheaper locales like Southeast Asia.


The shift—illustrated in weakened foreign investment in China—has pluses and minuses for an economy key to global growth. Beijing wants to shift to higher-value production and to see incomes rise. But a de-emphasis on manufacturing puts pressure on leaders to make sure jobs are created in other sectors to keep the world's No. 2 economy humming.

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The Future of Manufacturing - Opportunities to drive economic growth

The Future of Manufacturing - Opportunities to drive economic growth | Business Brainpower with the Human Touch | Scoop.it

A report by the World Economic Forum (the Forum) in collaboration with Deloitte Touche Tohmatsu Limited (DTTL) that discusses the future of the manufacturing industry. The report, The Future of Manufacturing: Opportunities to Drive Economic Growth, explains that challenges in talent, innovation, infrastructure, and energy consumption are what countries and companies in the manufacturing industry must prepare to face in the coming years.

 

Which companies and countries will come out on top? Those that can attract, develop and retain the highest skilled talent, those that innovate to stay ahead of competition, and those that can find clean energy strategies and effective energy policies.

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Manufacturing the future: The next era of global growth and innovation

Manufacturing the future: The next era of global growth and innovation | Business Brainpower with the Human Touch | Scoop.it
A McKinsey & Company Productivity, Competitiveness, & Growth article.

The global manufacturing sector has undergone a tumultuous decade: large developing economies leaped into the first tier of manufacturing nations, a severe recession choked off demand, and manufacturing employment fell at an accelerated rate in advanced economies. Still, manufacturing remains critically important to both the developing and the advanced world. In the former, it continues to provide a pathway from subsistence agriculture to rising incomes and living standards. In the latter, it remains a vital source of innovation and competitiveness, making outsized contributions to research and development, exports, and productivity growth. But the manufacturing sector has changed—bringing both opportunities and challenges—and neither business leaders nor policy makers can rely on old responses in the new manufacturing environment.
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