WORLD: China leads in manufacturing competitiveness
China, the world's largest producer of clothing and textiles, is not only ranked as the most competitive manufacturing nation in the world, but will continue to hold this position in five years' time, a new survey says.
Other emerging nations such as India and Brazil are also set to challenge manufacturing stalwarts like the US, Germany and Japan over the next five years, according to the 2013 Global Manufacturing Competitiveness Index report from Deloitte and the US Council on Competitiveness.
While the survey of more than 550 chief executive officers (CEOs) and senior leaders at manufacturing companies around the world is not industry specific, it confirms that the landscape for competitive manufacturing is in the midst of a massive power shift.
Nations such as the UK, France, Italy, Belgium, the Netherlands, Portugal, Poland and the Czech Republic, are all expected to experience a dramatic decrease in their ability to compete.
The strongest driver of competitiveness is seen as access to talented workers, a country's trade, financial and tax system, and then the cost of labour and materials.
"America and Europe have continued to watch emerging markets mature and become formidable competitors over the past decade," said David Raistrick, UK manufacturing leader at Deloitte.
In five years key emerging nations are expected to vault forward in the Index: Brazil jumps from its current eight place slot to third place and India jumps from fourth to second place. China remains firmly in first place.
While the Americas region will continue to show significant manufacturing prowess, Asia will have ten of the top 15 most competitive nations within the decade.
"Frontier markets in Asia such as Vietnam and Indonesia are on the rise," says Raistrick.
The global CEO survey results echo the view that while China and India are still prominent in discussions, manufacturers are turning their focus to these frontier markets for growth to capture both the growing local consumer demand and to serve as strategic manufacturing hubs in the global value chain."
- India's labour law reforms edge a step closer
- Alliance and Accord urged to harmonise efforts
- Retailers voice concerns on Scottish independence
- Improved supplier capabilities benefit Next
- THE FLANARANT: Understand win-win or lose out
- Under Armour "resonating strongly" with consumers
- Apparel is third-largest re-shored US sector
- Ultrasonic execs disappear along with company cash
- Trial cotton subsidy scheme underway in China
- Cambodia union members detained amid wage campaign
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Wool in the 21st Century: new prospects for a familiar fibre
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Clothing Manufacturers (Global) - Industry Report