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Why cant Canadians compete with lower labour cost countries such as India and China - Term Paper Example

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The ever increasing global business environment has made several countries adopt strategies that would enable them survive the cut-throat global competition. Low-cost nations such as India, Brazil, Thailand and China offer low…
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Why cant Canadians compete with lower labour cost countries such as India and China
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Why cant Canadians compete with lower labour cost countries such as India and China

Download file to see previous pages... It is very difficult for Canada to be a manufacturing powerhouse like India and China. As of 2012, the 486.6-million Indian labor force makes it the globes second largest. Besides, the telecommunication industry in India is the world’s fastest growing. After the quarter of 2013, India became the third largest market for smartphones globally after China and the United States of America (Drèze & Amartya (2013). In terms of the gross domestic produxt, by 2013 China had become the globe’s second largest economy. On the other hand, China has been the globe’s manufacturing hub, leveraging its cheap labor in order to dominate global trade, especially the nation’s exports (Sang, 2013).
In order to compete in the international manufacturing stage, Canada needs to differentiate itself from its competitors by making maximum use of its strengths. This will build ensure that it gains some steps in becoming a manufacturing powerhouse. China and India do not view Canada as a competitor because they have the capability to respond rapidly to the ever changing business environment and offer customers with what they need (Sexton, 2007).
Chinese and Indian manufacturers have a vital strength in providing work that is customized together with services in order to meet the market requirements more flexibly than manufacturers in other nations like Canada. To attain this crucial strength (Scianna, 2014) argues that Canadian manufacturers need to invest in innovative technologies. Compared to low-cost nations like China, India, Malaysia and Brazil, the manufacturing sector in Canada is nowhere as big as other nations. In order for the Canadian manufacturers to stay in business competitively, the machine shops not only need to have the right equipment, but also make products for cost effective unit prices.
Scianna (2014) noted that the most outstanding difference between Canada and its ...Download file to see next pagesRead More
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