国内英语资讯:Chinas economic shift creates opportunities for other emerging markets: report
<p><span word="BEIJING">BEIJING</span>, <span word="Oct">Oct</span>. 7-- <span word="China">China</span>'<span word="s">s</span> <span word="pursuit">pursuit</span> <span word="of">of</span> <span word="high">high</span>-<span word="end">end</span> <span word="manufacturing">manufacturing</span> <span word="and">and</span> <span word="relocation">relocation</span> <span word="of">of</span> <span word="labor">labor</span>-<span word="intensive">intensive</span> <span word="factories">factories</span> <span word="will">will</span> <span word="generate">generate</span> <span word="opportunities">opportunities</span> <span word="for">for</span> <span word="other">other</span> <span word="emerging">emerging</span> <span word="markets">markets</span> (<span word="EMs">EMs</span>) <span word="in">in</span> <span word="Asia">Asia</span> <span word="to">to</span> <span word="bolster">bolster</span> <span word="economic">economic</span> <span word="growth">growth</span>, <span word="Fitch">Fitch</span> <span word="said">said</span> <span word="in">in</span> <span word="a">a</span> <span word="report">report</span>.</p><p><span word="The">The</span> <span word="rating">rating</span> <span word="agency">agency</span> <span word="said">said</span> <span word="Asia">Asia</span>'<span word="s">s</span> "<span word="frontier">frontier</span>" <span word="EMs">EMs</span>, <span word="such">such</span> <span word="as">as</span> <span word="Vietnam">Vietnam</span>, <span word="will">will</span> <span word="benefit">benefit</span> <span word="from">from</span> <span word="industrial">industrial</span> <span word="transfers">transfers</span>, <span word="but">but</span> <span word="noted">noted</span> <span word="preconditions">preconditions</span>, <span word="including">including</span> <span word="a">a</span> <span word="sound">sound</span> <span word="business">business</span> <span word="environment">environment</span> <span word="and">and</span> <span word="political">political</span> <span word="stability">stability</span>.</p><p>"<span word="China">China</span>'<span word="s">s</span> <span word="rising">rising</span> <span word="wages">wages</span>, <span word="higher">higher</span> <span word="land">land</span> <span word="costs">costs</span> <span word="and">and</span> <span word="real">real</span> <span word="exchange">exchange</span> <span word="rate">rate</span> <span word="appreciation">appreciation</span> <span word="over">over</span> <span word="the">the</span> <span word="past">past</span> <span word="decade">decade</span> <span word="have">have</span> <span word="reflected">reflected</span> <span word="policy">policy</span> <span word="efforts">efforts</span> <span word="to">to</span> <span word="rebalance">rebalance</span> <span word="the">the</span> <span word="economy">economy</span> <span word="and">and</span> <span word="raise">raise</span> <span word="living">living</span> <span word="standards">standards</span>, <span word="but">but</span> <span word="they">they</span> <span word="have">have</span> <span word="also">also</span> <span word="reduced">reduced</span> <span word="low">low</span>-<span word="end">end</span> <span word="manufacturing">manufacturing</span> <span word="competitiveness">competitiveness</span>," <span word="the">the</span> <span word="report">report</span> <span word="said">said</span>.</p><p><span word="Wages">Wages</span> <span word="of">of</span> <span word="manufacturing">manufacturing</span> <span word="workers">workers</span> <span word="in">in</span> <span word="the">the</span> <span word="country">country</span> <span word="have">have</span> <span word="surpassed">surpassed</span> <span word="those">those</span> <span word="of">of</span> <span word="other">other</span> <span word="EMs">EMs</span> <span word="in">in</span> <span word="the">the</span> <span word="region">region</span>, <span word="while">while</span> <span word="ongoing">ongoing</span> <span word="urbanization">urbanization</span> <span word="and">and</span> <span word="an">an</span> <span word="aging">aging</span> <span word="work">work</span> <span word="force">force</span> <span word="will">will</span> <span word="continue">continue</span> <span word="to">to</span> <span word="drive">drive</span> <span word="the">the</span> <span word="rise">rise</span>.</p><p><span word="Chinese">Chinese</span> <span word="firms">firms</span>, <span word="along">along</span> <span word="with">with</span> <span word="peers">peers</span> <span word="from">from</span> <span word="other">other</span> <span word="manufacturing">manufacturing</span> <span word="nations">nations</span>, <span word="have">have</span> <span word="started">started</span> <span word="to">to</span> <span word="transfer">transfer</span> <span word="at">at</span> <span word="least">least</span> <span word="part">part</span> <span word="of">of</span> <span word="their">their</span> <span word="production">production</span> <span word="bases">bases</span> <span word="to">to</span> <span word="less">less</span>-<span word="developed">developed</span> <span word="economies">economies</span> <span word="in">in</span> <span word="search">search</span> <span word="of">of</span> <span word="lower">lower</span> <span word="labor">labor</span> <span word="costs">costs</span>. <span word="Domestically">Domestically</span>, <span word="the">the</span> <span word="government">government</span> <span word="is">is</span> <span word="pushing">pushing</span> <span word="industries">industries</span> <span word="to">to</span> <span word="move">move</span> <span word="up">up</span> <span word="the">the</span> <span word="value">value</span> <span word="chain">chain</span>, <span word="shifting">shifting</span> <span word="to">to</span> <span word="a">a</span> <span word="new">new</span> <span word="growth">growth</span> <span word="pattern">pattern</span> <span word="based">based</span> <span word="on">on</span> <span word="innovation">innovation</span> <span word="rather">rather</span> <span word="than">than</span> <span word="cheap">cheap</span> <span word="labor">labor</span>.</p><p><span word="Fitch">Fitch</span> <span word="pointed">pointed</span> <span word="out">out</span> <span word="that">that</span> <span word="China">China</span>'<span word="s">s</span> <span word="global">global</span> <span word="share">share</span> <span word="of">of</span> <span word="exports">exports</span> <span word="of">of</span> <span word="clothing">clothing</span>, <span word="footwear">footwear</span> <span word="and">and</span> <span word="furniture">furniture</span>, <span word="although">although</span> <span word="still">still</span> <span word="considerable">considerable</span>, <span word="is">is</span> <span word="retreating">retreating</span> <span word="from">from</span> <span word="its">its</span> <span word="peak">peak</span> <span word="in">in</span> 2017.</p><p>"<span word="A">A</span> <span word="significant">significant</span> <span word="drop">drop</span> <span word="in">in</span> <span word="China">China</span>'<span word="s">s</span> <span word="low">low</span>-<span word="end">end</span> <span word="manufacturing">manufacturing</span> <span word="over">over</span> <span word="the">the</span> <span word="coming">coming</span> <span word="decades">decades</span> <span word="would">would</span> <span word="leave">leave</span> <span word="a">a</span> <span word="large">large</span> <span word="gap">gap</span> <span word="for">for</span> <span word="lower">lower</span>-<span word="cost">cost</span> <span word="countries">countries</span> <span word="to">to</span> <span word="exploit">exploit</span>," <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="report">report</span>.</p>
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