News in July
[China] Wage increases are threatening China's competitiveness, but improved productivity and other advantages mean it will continue to attract investors, analyst said. China will no longer be a competitive place for production, given the strong rise in the cost of production, the bank said. BCG(Boston Consulting Group) said US technology giant NCR has moved its manufacturing of ATMs to a factory in Columbus, Georgia, that will employ 870 workers as of 2014 - an example of major manufacturers leaving China. Adidas announced recently that it would close its only directly owned factory in China, becoming the latest major brand to move its manufacturing to cheaper countries, though it maintains a network of 300 Chinese contractors. However, not all economists believe China will lost its manufacturing edge, due partly to improvements in productivity. "Most of the increase in wage have been offset by strong productivity growth", said Mr. Louis Kuijs, project direct...