- Global Competitiveness
How Global Manufacturing Leaders View CompetitivenessDecember 28, 2012
The Global Manufacturing Competitiveness Index reveals how manufacturing CEOs around the world view their industry's competitiveness.
Impacted by the digital revolution and emerging technologies, the manufacturing industry is expected to continue to transform in ways that redefine the tools needed for economic growth and global competitiveness, according to an index analyzing the global manufacturing industry.
The Global Manufacturing Competitiveness Index was prepared by the Deloitte Touche Tohmatsu Limited Global Manufacturing Industry group and the Council on Competitiveness and includes data from more than 550 CEOs and senior manufacturing leaders around the world. The multi-year initiative studies the trends creating a hyper-competitive global manufacturing environment. “Properly understanding the breadth of manufacturing is essential to enacting policies to improver standards of living and be more competitive in the long term,” an opening letter about the study explains.
The following are highlights from the report:
- China ranked the most competitive manufacturing nation today and five years from now
- Five developed economies ranking among the top 10 most competitive were Germany, the U.S., South Korea, Canada, and Japan.
- Talent-driven innovation is considered the most critical driver of a nation’s competitiveness
- The second-most important driver is the economic, trade, financial and tax system of a nation
- In Europe, business leaders see the continent’s intellectual property protection policies contributing to a competitive advantage
- In the U.S., only intellectual property protection policies and policies supporting technology adoption, integration and transfer help contribute a competitive advantage
- In China, policies encouraging investments in science and technology, employee education and infrastructure development help to provide a competitive advantage
“As we enter 2013, much is up for grabs,” the report states, noting “recent restrained growth in China coupled with imminent leadership changes, a delicate and precarious recovery teetering in the U.S., a dark cloud over much of the Eurozone, trade wars in South America, an ongoing malaise in Japan, and the percolating but elusive rise of India”.
The leaders of those societies, the report concludes, will focus on “the competitiveness of each nation’s manufacturing innovation ecosystem”.