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Emerging markets and competitiveness
1. Competitiveness 1980s â Japan overtook USA in car manufacturing â not with subsidies or cheap labour â but with innovation â lean manufacturing ( Toyota Production System - any part of production that didnât have intrinsic value for the end customer is wasteful â lots of middle - management redundancies) worlds centre of economic gravity â shifting towards emerging markets â societies and economies going through rapid economic growth and industrialisation â up to 40 in 2010 led by China / India. ASEAN â China FTA is the largest regional emerging market. Jan 2010. They are no longer content with being source of cheap hands and low cost brains â innovate on their own terms â in healthcare, cars, telecoms. Cutting costs by up to 90%. Redesigning business processes. READ ECONOMIST APR 17 TH 2010 SPECIAL REPORT ON INNOVATION IN EMERGING MARKETS