‘Made in USA’ manufacturing set to return; China faces middle income trap
May 11th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Within the next five years, the United States is expected to experience a manufacturing renaissance with a return of the 'Made in USA' badge, as the wage gap with China shrinks and certain US states become some of the cheapest locations for manufacturing in the developed world, according to a new analysis by the Boston Consulting Group (BCG). Meanwhile, a recently published economics paper says that some of the strongly growing emerging economic powers such as China and Brazil, could face a middle-income trap where growth slows.