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The world is fast changing, with a rebalancing of manufacturing bases across the developed and developing nations. China, with its increasing wages and production costs, is fast losing its advantage on cost. Russia is also facing challenges in maintaining its competitiveness in these challenging times. On the other hand US and Mexico are reclaiming their share on the back of with increase in productivity and decreasing cost. Countries like Vietnam are preferred for manufacturing due to cheaper labour and their manufacturing policies.
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