Mexican Media Brands
World’s Most Productive Nation? Hint: It’s Not China
Productivity in China and India has doubled since 2003. But the U.S. is still at least 80% better in terms of output per hour than either, according to Oxford Economics Ltd. in Oxford, England.
#economics
Share
Productivity in China and India has doubled since 2003. But the U.S. is still at least 80% better in terms of output per hour than either, according to Oxford Economics Ltd. in Oxford, England. It says America also is 25% more productive than Japan.
And labor costs? China is only 4% cheaper today than the U.S. in terms of productivity per worker, according to a new research briefing.
Oxford notes that the 20% appreciation of the dollar since mid-2014 has done “significant damage” to America’s manufacturing competitiveness. But it figures productivity growth in the U.S. since 2003 has climbed 40% compared with 25% in Germany and 30% in the U.K.
The report says Mexico has emerged as a “sensible ‘near-shoring’” alternative for U.S. companies with costs 10% lower than in China. That’s a big change from 2003, when Mexico was about six times cheaper than the U.S. but eight times more expensive than China.
RELATED CONTENT
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.