Chart of the week: how important is manufacturing to emerging markets?
For some emerging economies, large energy deposits can provide a fast boost to growth. But to move up towards middle income status or beyond, manufacturing has almost always been a necessary step for EMs to build a modern economy.So what is the picture of the world’s top manufacturers? Who is the biggest, and which EMs have made the biggest strides?
According to a recent report by consultants McKinsey, manufacturing raises incomes and provides the machinery, tools, and materials to build modern infrastructure and housing.
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