Skilled labor advantage for competitiveness
Updated: 2016-05-13 08:06
By AMITENDU PALIT(China Daily)
|
|||||||||
In the Global Manufacturing Competitiveness Index of 2016 produced by Deloitte and the US Council on Competitiveness, China retained the top ranking it has held since 2013; the United States moved up to number two, and Germany dropped to number three.
The report predicts the US will overtake China as the world's most competitive country in manufacturing by 2020. While China scored 100 in the current competitiveness index it is predicted to fall to 93.5 in 2020, while the US, which scored 99.5 in the current index, is forecast to score 100 by 2020. Thus the report expects the US to become much more competitive than China in manufacturing by the end of the decade.
The Manufacturing Competitiveness Index is prepared on the basis of responses collected from a diverse group of senior global executives belonging to different industries. The impression of these executives points to the US emerging as the most competitive manufacturing country in the world. This impression is being driven by the importance of advanced technology in determining manufacturing competitiveness.
Unlike low labor costs and small innovations, which have been the main determinants of manufacturing competitiveness for the last three or four decades, sophisticated technology is expected to become the main source of industrial competitiveness in the near future.
This is the result of the change in the organizational character of manufacturing. High value-added manufacturing industries, such as aeronautics, automobiles, chemicals, defense, electronics, machinery and pharmaceuticals are becoming more automated in process and function and are therefore employing less labor. Value additions in these industries now come from technological advances that improve efficiencies.
The vital role of advanced technology in promoting the competitiveness of future global manufacturing is well understood. But will that make the US the most competitive manufacturing country in the world within five years?
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |