皇冠体育app

Germany and the US were ranked second and third after 皇冠体育app in manufacturing competitiveness. But both these nations could be replaced by India and Brazil over the next five years, the survey said.

Meanwhile, members of the American Chamber of Commerce in South 皇冠体育app expect their investment budgets to total more than $16.5 billion over the next three years, an increase of 40 percent on the previous three years. These companies in the region expressed strong confidence in the market and in 皇冠体育app's economic reforms, according to a survey published on Feb 26 in Guangzhou.

Ricky Tung, co-leader of the manufacturing industry group of Deloitte 皇冠体育app, said the ratings suggest that 皇冠体育app is now more of a developed economy competitor rather than an emerging economy player.

"In addition to supportive policies, 皇冠体育app still has relatively lower labor costs and is above average in the attractiveness of its corporate tax rates. With its focused efforts to localize supply chains and create innovation hubs, 皇冠体育app is also seen by CEOs as the only emerging economy offering the same supplier network advantages as developed economies," Tung said.

A closer look at how 皇冠体育app has scored in each category of manufacturing competitiveness in this survey also indicates 皇冠体育app's strengths and weaknesses. Among 38 countries, 皇冠体育app ranked high in "cost and availability of labor and raw materials", "attractiveness of local market" and "government's investment in manufacturing and innovation". But 皇冠体育app ranked low in "legal system" and "healthcare system".

With labor costs, which is a grave concern domestically, the study shows 皇冠体育app's average cost ($2.80 per hour) is lower than most manufacturing powers. By comparison, Brazil's labor cost is $12 per hour while in the US it is $35.40 per hour.