Shift in Global Trade PatternsVIEW EVENT DETAILS
Program: 6:30-8:00 pm
Reception: 8:00-9:00 pm
China has emerged as an economic giant with a comparative advantage in manufacturing due to its vast pool of relatively low-cost labor and foreign investment incentives. Today, various global market forces such as rising transportation costs and higher labor wages are eroding China's comparative advantage and prompting multinational corporations to establish or shift manufacturing bases out of China. U.S. manufacturers are shifting production from China to Mexico, where closer proximity, a stable labor market and faster "time to market" make it a more cost-effective option. Many Southeast Asian countries like Vietnam, Malaysia and Indonesia are also poised to increase production due to their low-cost and abundant labor supply. Could China be losing its competitive edge to other emerging markets elsewhere in Asia and around the world?
Please join Asia Society for a discussion in which we will seek to explore these momentous shifts in international trade and address the question, "Will China lose its competitive edge?" Our group of expert panelists includes Clyde Prestowitz, Founder and President of the Economic Strategy Institute; Marc Mealy, Vice President-Policy at the US-ASEAN Business Council; and Murray Hiebert, Senior Fellow and Deputy Director of the Chair for Southeast Asia Studies at the Center for Strategic and International Studies (CSIS). Irene Dorner, President and Chief Executive Officer of HSBC USA, will present introductory remarks.
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Introductory remarks by Orville Schell, Arthur Ross Director of Asia Society's Center on U.S.-China Relations (3 min., 4 sec.)