According to BCG, the top 10 most competitive export economies are: China, United States, South Korea, United Kingdom, Japan, Netherlands, Germany, Italy, Belgium and France.
To help track the changes in global production costs over the last 10 years, BCG has developed a Global Manufacturing Cost-Competitiveness Index that covers four economic drivers: wages, productivity growth, energy costs and currency rates. The 25 countries included in the index represent nearly 90% of the global exports of manufactured goods.
“Many companies are making manufacturing investment decisions on the basis of a decades-old worldview that is sorely out of date,” said Harold L. Sirkin, a BCG senior partner and a co-author of the analysis. “They still see North America and western Europe as high cost and Latin America, eastern Europe and most of Asia—especially China—as low cost. In reality, there are now high- and low-cost countries in nearly every region of the world.”
Monday, April 28, 2014
US, Mexico Are 'Rising Stars' in Manufacturing Cost Competitiveness
Well, ok. Let's see some results. And as Glen H. Reynolds would say: faster, please.