China should upgrade its manufacturing to cope with the challenges from the US in the field of modern manufacturing, said a comment in the China Business News. Excerpts follow:
The United States is expected to take over from China as the world’s most competitive manufacturer during the coming five years, according to the 2016 Global Manufacturing Competitiveness Index, which was compiled by Deloitte Touche Tohmatsu Ltd and the Council on Competitiveness in the US.
Currently ranked as the most competitive manufacturing nation, China may slip to second place in the face of its aging population, economic downturn, rising wages and soaring land prices. The US, on the other hand, is enhancing its ability to translate advanced manufacturing technologies－such as predictive analytics, smart and connected products, and smart factories－into global competitiveness.
To establish a national innovation ecosystem that connects people, resources and policies, and efficiently translates new ideas into commercialized products and services, China needs a comprehensive upgrade of its manufacturing sector.
To further implement the ambitious “Made in China 2025” program, China will aim to bring more than 90 percent of domestic standards in key manufacturing areas up to international levels by 2020, up from 70 percent now.