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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 World Bank Just Slashed Its Forecasts For Global Growth

The World Bank Just Slashed Its Forecasts For Global Growth | Business Brainpower with the Human Touch | Scoop.it
In this weak external environment, growth for developing countries will need to come from within.


The World Bank just published an update to its latest Global Economic Prospectsreport.


"Four years after the onset of the global financial crisis, the worst appears to be over," they write.  "However, the global economy remains fragile, as high-income countries continue to suffer from volatility and slow growth, says the World Bank’s latest Global Economic Prospects, issued today.

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