The Dominance of Asia in Global Manufacturing

Asia plays a crucial role in global manufacturing, accounting for over 55% of the world's output. Key countries such as China and India dominate sectors like steel and automotive, with more than half of the world's steel capacity located in these two nations. The continued cost competitiveness of Asia, bolstered by favorable labor rates and access to raw materials, has solidified its position as a leading manufacturing hub. Emerging markets in Southeast Asia and India are also contributing to this growth, further enhancing Asia's importance in the global supply chain.