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Wednesday, January 4, 2012

Will the US begin to close the gap with China in manufacturing

Will the US begin to close the gap with China in manufacturing : The US last year gave up its century-long title as the world’s biggest manufacturing country by output to China, whose climb up the global factory league table has been meteoric. But progress is slowing as China’s rising wage and energy costs make production options – at least for export – less favourable. In the US, local production is growing in response to customers’ desire for quick design changes and rapid delivery of orders. Many US manufacturers have also become more competitive by substituting brain power and capital for labour.

There is little evidence that China has come close to catching up with the US in the most technically demanding end of manufacturing. By the end of 2012, even if the US does not regain the top slot, it will have narrowed the gap with China in its share of world manufacturing production. Peter Marsh For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today

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