China is losing its cheap labor advantage, opening opportunities for growth in the manufacturing sectors of countries like Nicaragua.
Thursday, August 1, 2013
According to a report by Stratfor, a geopolitical intelligence firm based in Texas, "China's economic problems have opened the door to 16 different countries, including Ethiopia, Mexico, Indonesia and Peru, to become global forces in the growth of the manufacturing sector, "noted an article in Americaeconomia.com.
Stratfor says that the 16 countries after China, according to their region are, in Latin America: the Dominican Republic, Mexico, Nicaragua and Peru, in the Indian Ocean Basin: Ethiopia, Kenya, Tanzania, Uganda, Bangladesh, Sri Lanka, Indonesia and Myanmar , and in the periphery of the South China Sea: Cambodia, Laos, Philippines and Vietnam.
"The dispersion of the industries which we see as signs of an initial phase of economic growth is already underway. Moreover, there are no extreme blocks for higher economic growth, however, some of these countries would be considered as having low levels of political risk and stability at least, no more than what China would have had in the period 1978 - 1980 ", says George Friedman, chairman of Stratfor.
Because of the suspicion that exists in Colombia about the presence of the pest known as "wilt by fusarium", an alert was issued in the countries of Central America.
The International Regional Organization for Agricultural Health (OIRSA), reported that because of the suspicion of the fungus in Colombia, the Colombian Agricultural Institute (ICA) issued a resolution on June 25, which declares in phytosanitary quarantine the farm Don Marce, located in the municipality of Riohacha in the department of La Guajira, for the presence of symptoms associated with the pest Fusarium oxysporum f. sp. cubense Race 4 tropical.
North American entrepreneurs in the footwear sector have emphasized the advantages of the Nicaraguan industry as providers of high heel shoes for ladies.
Surpassing China, Vietnam, Cambodia, Indonesia and Bangladesh and ranking below average in cost of quality leather shoes ($ 3.30 per pair), manufacturing soles ($ 0.43) and the development of a pair women shoes ($ 8.17), Nicaragua has become highly attractive as a destination for industry manufacturers and a candidate for a strong manufacturer and exporter of women's shoes.
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