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ASEAN to become ´world´s factory´ in a decade
August 2015
Rising labour costs, among other reasons, have driven Chinese manufacturers to set up operations in Southeast Asian countries. A study by ANZ Bank economists suggest that Southeast Asia would take over from China to become the ´world´s factory´ in the next 10-15 years, citing its youthful workforce and strategic location as catalysts for this shift.
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