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News & Events |
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Manufacturers should look beyond ChinaBritish manufacturers should look beyond China to the opportunities offered by other developing countries, according to a new report. A study by engineering employers’ body EEF and consultants BDO Stoy Hayward says that Vietnam, Thailand, Indonesia and Malaysia also offer significant growth prospect for UK industry. “In recent years China has been the destination of choice for many firms seeking to relocate manufacturing or other production functions. There are clear advantages in this choice, but firms need to realise that this is very much a moving target and also not overlook other opportunities elsewhere,” EEF chief economist Stephen Radley said. UK firms, which have historically relied on European and North American markets for export growth, have been slow to tap into these new and emerging markets. The rapid pace of globalisation means that firms cannot ignore the range of competitive threats and opportunities that will continue to emerge, the report says. July 16 2007 View the report: |
Last updated 16/12/2008 12:17 |
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