Abstract The Boston Consulting Group recently released a research report saying that after years of outflow, the US manufacturing industry will regain competitiveness due to low energy prices and relatively low wages. The report said that due to rising competitiveness, the United States will be in the next six years.
The Boston Consulting Group recently released a research report saying that after years of outflow, the US manufacturing industry will regain competitiveness due to low energy prices and relatively low wages. The report said that due to rising competitiveness, the United States will seize 70 billion to $115 billion in manufacturing exports from exporting countries such as Europe, Japan and China in the next six years. These new output values, combined with factors such as manufacturing returns, will increase the United States by 2.5 million to 5 million jobs by 2020.
The report said: "The United States is gradually becoming one of the countries with the lowest manufacturing costs in the developed countries." By 2015, the labor costs in the United States will be 16% to 35% lower than Germany, Japan, France, Italy and the United Kingdom. In addition, US energy prices have fallen sharply thanks to shale oil development. By 2015, US natural gas prices will be 60% to 70% lower than these countries, and electricity prices will be 40% to 70% lower. Low energy prices will enhance the competitiveness of manufacturing industries such as chemicals, industrial metals and textiles in the United States.
The report believes that if the product is ultimately sold to the United States, it will be more economical for manufacturers to choose to produce in the United States, taking into account factors such as logistics, freight and operational risks.
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