We started comparing the average wages across Asia in 2015 to help importers decide which country might be the best option for them to source from. As I mentioned before, you need to consider the following data (among others): The trend of the average wages in the countries in question The stability of exchange rates, for example against the US dollar Back in 2015, China's increasing wages were followed by other neighboring countries. Its 'real' cost of skilled factory labor, which … [Read more...]
Sourcing Trends in 2019 between China and other Asian Countries
I attended the Made in Asia conference last week, and the opening talk was given by Ben Simpfendorfer (Founder & CEO at Silk Road Associates, a strategic advisory firm based in Hong Kong). Ben is one of the most insightful people I know when it comes to covering sourcing trends in China and other Asian countries. Here are some of the interesting points he mentioned. The market shares of different Asian countries (Vietnam, Bangladesh, Indonesia, India...) haven't been changing as … [Read more...]