China's manufacturing competitiveness will be replaced by the US in 2020

Time of issue:2018-06-07 16:45
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(Summary description)Phoenix Financial News Deloitte ’s Global Consumer and Industrial Products Industry Group and the United States Competitiveness Commission released the “2016 Global Manufacturing Competitiveness Index” report showing that China ranks first in the global manufacturing competitiveness field and the United States ranks second. However, it will be overtaken by the United States in the next 5 years.

China's manufacturing competitiveness will be replaced by the US in 2020

(Summary description)Phoenix Financial News Deloitte ’s Global Consumer and Industrial Products Industry Group and the United States Competitiveness Commission released the “2016 Global Manufacturing Competitiveness Index” report showing that China ranks first in the global manufacturing competitiveness field and the United States ranks second. However, it will be overtaken by the United States in the next 5 years.

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Time of issue:2018-06-07 16:45
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Phoenix Financial News Deloitte ’s Global Consumer and Industrial Products Industry Group and the United States Competitiveness Commission released the “2016 Global Manufacturing Competitiveness Index” report showing that China ranks first in the global manufacturing competitiveness field and the United States ranks second. However, it will be overtaken by the United States in the next 5 years.

Deloitte released the Global Manufacturing Competitiveness Index twice in 2010 and 2013, and China ranked first in both cases. However, the report predicts that China's competitiveness will decline in the next five years, and its ranking will slip to second place by 2020. The United States will surpass China to become the most competitive country in the global manufacturing industry, and Germany will still occupy the third position.

Globally, the top 15 countries and regions in terms of manufacturing competitiveness this year are characterized by the appearance of "clustering", most notably in North America and the Asia-Pacific region. Among them, the United States, Canada, and Mexico in North America all rank in the top ten, and they are still expected to maintain the world's top 10 leadership in the next five years. In the Asia-Pacific region, China, Japan, and South Korea lead, Malaysia, India, Thailand, Indonesia, and Vietnam also shows good development momentum, and all are expected to sprint the top 15 in the world in 2020. The overall performance of European countries is weaker than Asia-Pacific and North America, with Germany and the United Kingdom as the center, and Switzerland, Sweden, and the Netherlands gathered around them.

Specifically, the most competitive advantages in infrastructure are Germany, the United States, and Japan; in terms of talents, Germany, Japan, and the United States are the most competitive countries; in terms of labor costs, emerging economies still have the greatest advantages, mainly The average salary of the labor force is relatively low. The average hourly wages of India and China in 2015 were only US $ 1.7 and US $ 3.3, compared with US $ 38 and Germany's US $ 45.5. There is still a large gap in labor productivity. The economy is better. The United States leads the way, followed by Germany, Japan, and South Korea. In the future development trend, China and India will accelerate faster than other countries, while Japan and Germany will be challenged by the declining labor force and the aging population. In terms of physical infrastructure, Germany, Japan, and the United States have leading advantages. Germany tops the logistics performance index, and Japan ranks first on the Internet penetration rate.

Source: Phoenix Finance

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