The stages in the relocation of global industry

We document the stages of the relocation of global industry: From OECD countries to China and high-income emerging countries; Then from China and high-income emerging countries to low-income emerging countries, as production costs are becoming too high in high-income emerging countries. All economies are therefore now rapidly being transformed into service economies, with the exception of those of low-income emerging countries that are attracting industry from other regions.