This is mainly the case in low value added manufacturing sectors.
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Their official data on exports show that low value added production accounts for a declining share of total exports, falling to below 50 percent since 2008.
The challenge for the recently established devolved administration will be to manage the next phase of this evolution from an economy heavily dependent on traditional 'low value added' businesses, to one that will be increasingly reliant on knowledge based and services industries.
China already dominates both production and capacity at the low-value-added assembly end of manufacturing.
But Asia has to diversify, because too many countries make the same things and China makes low value-added products cheaper.
Gone is the low value-added export model, and in its place is an economy increasingly dependent on its own people and their consumption.
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The jewelry interest is the high-carat low value-added jewelry, he said.
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Low-value-added manufacturing that tends to be more labor intensive are the most likely industries to shift some of their operations outside of the established manufacturing zones within China or move their operations to another country, although that usually entails having to contend with a lack of developed infrastructure and a smaller, less skilled workforce.
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EMC, which sold some of its low-value storage to Dell and has been buying value-added analysis companies, is off 0.17%.
But the key to economic growth is not just the low cost of production, it's the value added--the innovation, design or better architecture, or the sheer intangible of exciting fashion.
Arcelor needed a firmer footing in higher growth markets like Central and Eastern Europe rather than in "higher value products where margins are very low", added Mittal.
The new policy is designed to boost income for the government (though the value isn't known yet) and create better jobs, especially high-tech manufacturing jobs that produce value-added tax revenue--not low-cost textiles.
What began as an outsourcing of manufacturing to low cost countries has evolved as China and India have moved up the value-added manufacturing curve.
Business spirits are low and the black economy untamed (a decision this week to raise value-added tax to a stonking 27% will not help).
Despite weaker than expected panel demand due to the economic slowdown in Europe and low seasonality, Samsung's total TV panel shipments increased in the low 10-percent range on-year due to strong sales of high, value-added products such as panels for 3D TVs and LED TVs.
Just when German consumers seem to have recovered their confidence, after years of low wage-growth and worries about jobs and pensions, the government wants to raise value-added tax by three percentage points next January.
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