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The picture that emerges is less a race with one clear champion than a map of trade-offs. China still underpins the system through the depth and scale of its manufacturing ecosystem. India and Vietnam appear to offer the clearest middle path, pairing competitive costs with strong growth momentum. Bangladesh and Pakistan continue to win on wages, but with sharper caveats around stability and execution. Turkiye, meanwhile, has become the speed play for Europe, though that advantage increasingly comes with a higher price tag.
GDP: The scale story, the growth story—and the volatility story
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
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