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The Status Quo and Trends of Global Manufacturing Cost Competitiveness

In the report The Shifting Economics of Global Manufacturing: How Cost Competitiveness is Changing Worldwide released in August, 2015, Boston Consulting Group identified dramatic changes in global manufacturing competitiveness from 2004 to 2014. China’s manufacturing industry is under great pressure with its cost having risen to be nearly the same as the US’s, while Mexico and the US are the current rising stars of global manufacturing. Dramatic changes in cost force companies to realign the global footprint, leading to the shift of global economic landscape with global manufacturing more regional-based. The research provides some lessons for Shanghai in developing advanced manufacturing industry. Main ideas conclusions in the report are refined as follows for leaders referring to.