If you’re looking for low-cost, stop looking at China

Trade & Border IssuesHot Spots
Written By Jennifer Joslyn

🤑 If you’re looking for low-cost, stop looking at China.

Once paraded as the best option for cheap labor in the manufacturing sector, China’s workers have become more skilled and less poverty-stricken. The labor rates have been rising for a handful of years in the country and the momentum to continue increasing pay is growing. Mexico, Vietnam, Myanmar, and India are now the lowest-cost options for manufacturers. It seems that American companies are focusing more on bringing manufacturing back to domestic soil, regardless. The pandemic seemed to change the outlook in the manufacturing industry, which hopes to avoid similar problems in the future.

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Jennifer Joslyn
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