Manufacturing changes are set to create two-speed world: WEF report

GENEVA, Jan. 12 (Xinhua) -- A new report launched Friday by the World Economic Forum (WEF) reveals that only 25 countries are in the best position to gain as global production systems stand on the brink of exponential change.

WEF said its report on Readiness for the Future of Production seeks to inform on the development of modern industrial strategies and urges collaborative action.

Three Asian countries are in the top five of the current baseline of production; with Japan at No. 1, South Korea is in second place and China in fifth position.

German is in third position and Switzerland is fourth, while the United States is seventh.

When it comes to drivers of production, the United States is the top country followed by Singapore, Switzerland, Britain and the Netherlands.

No African, Middle East or Latin American nations are in the top ten of either category.

The Readiness for the Future of Production Report 2018, developed in collaboration with A.T. Kearney, provides a snapshot of today's global production landscape along with potential responses, said WEF.

"Our work seeks to shape a future where new technologies in production systems help unlock human potential, tackle and solve challenges that have previously been insurmountable, and where all benefit," said Helena Leurent, head of the WEF's Future of Production System Initiative.

The report recognizes the impact of the Fourth Industrial Revolution and emerging technologies on new production systems and business models.

WEF said its report is intended to facilitate discussion between public and private sectors on the factors and conditions required, inform the development of modern industrial strategies, and define areas of collaborative action. Enditem