Asian Economies Take the Lead in Global Manufacturing

Asian economies are on the rise in manufacturing capabilities according to a joint study by Deloitte and the U.S. Council on Competitiveness.  Of the  five highest ranked countries, three are in Asia, while the United States sits at number four.  China and India scored the highest, with South Korea directly above the U.S.

The report, the “2010 Global Manufacturing Competitiveness Index” identified certain driving factors of manufacturing such as talent-driven innovation and governmental policy.  The index was based on the responses of over 400 chief executives around the world.

Asia, as the study demonstrates, has become the manufacturing epicenter of the world, with co-author Craig Giffi stating that “ What had been the world order in the second half of the late 20th century, is giving rise to new manufacturing paradigms.”

The U.S. and western European countries on the other hand are slipping, with 2015 projections seeing the U.S. falling to number five, being overtaken by emerging Brazil.

Posted by: Michael Darden

Sources: Deloitte

Photo credit: MADE IN CHINA.jpg courtesy of flickr user christophercozier

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