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US manufacturing competitiveness rising

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US manufacturing competitiveness rising

US manufacturing competitiveness rising

The United States is expected to be the most competitive manufacturing nation, moving China into the number two position by 2020, according to a report from professional services firm Deloitte and the Council on Competitiveness.

The rankings also reveal a shift among the world's traditional manufacturing powerhouses due to the Asia Pacific region's rising influence and declining strength in European and BRIC countries.

 The prediction is based on an in-depth analysis of survey responses from more than 500 chief executive officers and senior leaders at manufacturing companies around the world. Major highlights of the report include:

US projected to take number one spot by end of decade

"Made in the USA is making a big comeback."

  • The US improved its ranking from 4th in 2010 to 2nd in this year's study, and is expected to reach No.1 by 2020.
  • As the US invests heavily in talent and technology, the nation ranks highest as an advanced manufacturing economy. The country is highly competitive in terms of the share of high skill and technology contribution to exports and labor productivity as measured to gross domestic product.
  • The US continues to position itself among the global leaders in research and development activities by investing in top universities, R&D talent and venture capital.

Mighty Five (MITI-V) start to show face as manufacturing power group

  • Made up of the five-Asia Pacific nations of Malaysia, India, Thailand, Indonesia and Vietnam, the MITI-V or "Mighty Five" could represent a "New China" and enter the top 15 rankings of global manufacturing competitiveness over the next five years.
  • Low cost labor, agile manufacturing capabilities, favorable demographic profiles, and market and economic growth are leading factors likely to position these countries to rise in rankings by 2020.

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