Which countries can weather the contraction in global demand for, and production of, industrial products?
The global economy is being transform ed into a service economy, with a marked weakening of demand for and production of industrial products. A country can weather this contraction in industrial production if: Its cost competitiveness is strong; It produces industrial products "of the future" (aeronautics-space, pharmaceuticals, electronics, renewable energies, etc.) and not of the past (cars, chemicals, industrial capital goods). We see that currently, the following countries are weathering the contraction in industrial production: Among OECD countries: Canada, Spain, Austria, Belgium, Switzerland; Among emerging countries: Turkey, CEEC (Central Europe), India, China, Asian emerging countries excluding China and India.