According to the 2016 Global Manufacturing Competitiveness Index, the U.S. is expected to move into the top spot of most competitive manufacturing nation by 2020, knocking China from the throne.
The U.S. improved from its forth place ranking in 2010 to second in this year’s study. Canada and Mexico also made the top ten, while China, Japan, South Korea, Germany, the United Kingdom, Taiwan and Singapore rounded out the list. The gap continues to close in regards cost competitiveness, and the biggest U.S. manufacturing differentiators include talent development and manufacturing technology growth. Malaysia, Thailand, Indonesia, India and Vietnam are noted as up and coming global players that could represent a “new China” in terms of low cost labor and agile manufacturing capabilities.
Read more on what manufacturing executives surveyed had to say about creating and keeping the competitive advantage in the U.S.
“The U.S. is currently among the top nations unlocking advanced manufacturing technologies including smart, connected products and factories, predictive analytics and advanced materials that are core to future competitiveness,” said Craig Giffi, vice chairman, Deloitte LLP and Deloitte U.S. Automotive Sector leader. “The U.S. excels at creating connections and synergy between people, technology, capital and organizations to form a cohesive ecosystem of innovation, generating tremendous value from investments in research and development.”
We couldn’t agree more, Mr. Giffi.