The State of Manufacturing in China – There are competing opinions about whether China is becoming less competitive in labor intensive manufacturing. Some argue that China has hit the peak of its dominance and countries like Vietnam, Indonesia and Mexico are becoming increasingly attractive alternatives. However, others argue that rising labor costs in China have been more than offset by capital expenditures and upgrades. Currently, China exports about one-third of the world’s light manufacturing products.
Read more from the Wall Street Journal.
ILWU Disrupts Ports of Seattle and Tacoma – The International Longshore and Warehouse Union (ILWU) shut down the ports of Seattle and Tacoma in protest of a new grain terminal that is hiring non-ILWU workers. The ILWU has been protesting the new terminal for months; however, tensions came to a head on Thursday with physical altercations between security guards and protesters as well as reports of property damage.
Read more from the Los Angeles Times.
Sanctions Lifted on Libyan Ports – The European Union (EU) lifted sanctions on Libyan ports and other institutions late last week. The world’s largest steamship line, Maersk Line, announced it will resume service to the country as of September 8th, nearly eight months after suspending sailings. The initial shipments will transport mainly humanitarian aid in the wake of the country’s revolution and civil war.
Read more from MSNBC.
China’s Demand for Airplanes to Climb – Boeing forecasts that China will need 5,000 additional planes by 2030. These new aircraft, worth a total of $600 billion, would make China the second largest market after the U.S. Boeing raised its estimates over last year due to the country’s growing middle class.
Read more from the JOC.
