Countries ranging from Mexico to India and Cambodia are stepping up their competition for a greater role in the world’s reconfiguring supply chains, says The Wall Street Journal. China-based business executives are in high demand as they circle the globe looking for factory space or local tie-ups to reduce their dependence on China and its vast factory floor.
Governments are pulling out the stops to welcome the businesses, as they seek to turbocharge economic development and create millions of new jobs. The competition is part of a broad realignment of supply chains that is only now taking shape and has the potential to change the way goods are manufactured and shipped in the coming years.
The countries are competing on subsidies, tax breaks and other perks to convince businesses that they can duplicate the well-oiled manufacturing machine that China has honed over decades.
