Browsing: ANZ Bank

ASEAN to become ´world´s factory´ in a decade

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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.

China´s interests shift to ASEAN

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Lower production costs, reduction of tariffs and competitive prices of raw materials are pushing Chinese companies to shift production to South-East Asia. According to a study by ANZ Bank economists that South-East Asia would take over from China to become the ?world?s factory? in the next 10-15 years.