Cost Of “Made In China”
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The share of global manufacturing output from developing countries has risen from 20% in 2000 to over 33% in 2011. China now accounts for a fifth of all global manufacturing. However, China has witnessed soaring labour costs, taxes and land prices over the past few years, which are pushing companies to question China as a cost efficient location for manufacturing production. That said, China’s high costs are generally offset by the availability of a reliable supply chain, high-quality infrastructure, sophisticated market and overall ease of business, particularly when compared to the conditions of other Asian markets. The key for China is to move up the value chain of manufacturing. By doing so China will retain its competitive advantage within the Asian markets as well as sustaining its prominence as Asia’s manufacturing hub.
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