Who Will Be the Next Low Cost Country?

Wages have been increasing in a number of traditional Low Cost Country (LCC) locations.
Eurostat, the European Union’s statistics office, reports the following increases in industrial wages:

Czech Republic: 6.7%
Slovakia: 8.1%
Poland: 11.1%
Romania: 21.6%
Germany: 1.5%
France: 3%

Around Shanghai, China, wages in some industries are approaching European levels.  (Source: Automotive News Europe). My post yesterday discussed reasons for setting up global R&D operations; cost savings is no longer one of them.
So will the next Low Cost Country please step forward?
Some companies, like Renault, have plans to build manufacturing plants in Morocco and other Northern Africa countries. This could be the start of a good thing …read more