BRIC and Canada's dependence: impact of manufacturing costs

Brazil, Russia, India, and China together form the BRIC group of developing economies and are experiencing growth much greater than both the G7 and world as a whole. All four countries have significant ties to Canadian business and through the process of this project we will look at how our economic landscape is affected by their growth. The focus of this project will be on the manufacturing sector and how the rising cost of labour in the BRIC will affect Canadian producers and manufacturers. The research performed notes the increased cost of labour has reduced the benefits for Canadian companies to offshore their manufacturing requirements and goes on to demonstrate that this cost will exceed that of onshore manufacturing by 2025. Recommendations are made for the producers, manufacturers, and Canadian governments to both mitigate this risk and take advantage of the BRIC's growing economies. Primarily, these recommendations are focused on the onshoring of manufacturing. --P. ii.