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First, there were rising labour costs in China and pressure from the Chinese government to transfer technology to Chinese competitors.

But a growing list of factors has prompted companies to search for a backup. It has expanded significantly in India even as it reduces operations in China.Įventually, 85 per cent of Vestas's suppliers will be in India, said McCall, who recently left the company.Ĭhina still towers over every other country in global manufacturing, a position it cemented when multinationals flooded in after it joined the World Trade Organization (WTO) in 2001. American contract manufacturer TPI Composites moulds 260-foot-long turbine blades that regularly draw attention as they are shuttled along surrounding highways. Some of Vestas's suppliers have joined it. Principal exports include integrated circuits, refined petroleum, and computers.'We don't want all our eggs in one basket in China,' he said. Services dominate the economy, but Singapore is also a major manufacturer of electronics and chemicals and operates one of the world’s largest ports.

Although certain civil liberties remain restricted, the PAP champions economic liberalization and international trade. Lee Hsien Loong has been prime minister since 2004 and has suggested a near-term leadership transition. Despite an active parliamentary opposition, it has been ruled by the People’s Action Party (PAP) for many decades. With a business-friendly regulatory environment and a very low unemployment rate, Singapore is one of the world’s most prosperous nations.

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