Tuesday, October 23rd, 2012
6:30pm – 8:00pm
725 Park Avenue (at East 70th Street), New York, NY
Members: $10; students/seniors: $12; nonmembers: $15
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. Vietnam, increasingly positioned as the “new China,” is also poised to increase production due to its increasing wage advantage. Could China be losing its competitive edge to low cost emerging markets elsewhere in Asia and around the world?
Please join Orville Schell, Arthur Ross Director of the Center on U.S.-China Relations at Asia Society, and Clyde Prestowitz, Founder and President of the Economic Strategy Institute, for a discussion in which we will seek to explore these momentous shifts in international trade.
Irene Dorner, President and Chief Executive Officer of HSBC USA, will present introductory remarks.
Part of Changing the Game: The HSBC Series on Asian Emerging Markets
Sponsored by:HSBC
Supporting Organization: HKTDC
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