Advanced manufacturing is changing the rules of economic development. While the Philippine government is making the right moves toward infrastructure investment, the shift toward innovation must happen faster than expected. IN April, domestic manufacturing in the Philippines sustained its growth momentum. Thanks to strong growth and increased construction, the domestic market continued to fuel manufacturing growth. In the Duterte era, the Philippines has significant potential to complete its industrialization in which previous administrations have failed. Yet, while the industry continues to employ only some 16 percent of the labor force, it accounts almost twice as much of the Philippine gross domestic product (GDP). As Japan, the newly industrialized tigers and more recently China and other countries in emerging Asia have demonstrated, industrial manufacturers, particularly with substantial inflows of foreign direct investment (FDI), can fuel sustained high growth and rapid economic development. Historically, manufacturing has played the key role from the British Industrial Revolution to China’s rise. But as the rules of industrial competition are changing, so are those of economic development—as evidenced by the recent rise of robotics. Toward consolidation in global robotics However, as global robotics is approaching consolidation, rivalries are intensifying. In 2015, worldwide sales of industrial robots… Read full this story
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