AGAWAM, Mass. (WWLP) – A Boston-based group predicts that over the next few years it may not be as cheap as it used to do business overseas.The Boston Consulting group says that’s because wages for workers are rising and the Chinese currency is getting stronger.Karl Petrick, an economics professor at Western New England University said as china grows richer, this was inevitable.In terms of China and manufacturing it’s probably the most significant one that we’ve picked up but with call centers in India you did see a backlash from customers couldn’t understand the person or the person couldn’t understand them,” said Petrick.The changes in China won’t be automatic good news for the U.S.; wages there will still be lower than in the U.S.But the U.S. is becoming one of the cheapest locations for manufacturing in the developed world and the Boston study believes that will bring a wave of reinvestment.One thing that is helping to speed up that process is the big push to get peole to buy products that are made locally.Laura Albano, the owner of Hidden Treasures in Agawam, said, “You know people are starting to not buy things in China and want to put their money back into this country so I figured it would be a great way to put it all together.” Small businesses like Albano’s are joining big companies like heavy equipment maker Catepillar and the toymaker Wam-O hoping to bring their production back and cash in on the “Made in the USA” label.The expected U.S. reinvestment will affect some industries more than others.Shoes and clothing will likely stay overseas but higher value goods like home appliances and construction equipment, which are expensive to ship are more likely to return to the states.
‘Made in USA’ making a comeback. Cost of doing business in China rising
Thursday, October 27th, 2011
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