Multinational Corporations Step up the Search for the “Next China”

As far as foreign direct investment in Asia is concerned, China is still the undisputed leader, drawing approximately $42.78 billion in just the first five months of the year, an increase of 55% from the same period a year ago. But China is coping with a number of growing pains that include higher wages and a strengthening currency. That has left a void for other emerging markets to step up and take the place of a multinational corporation’s best friend. China used to be thought of as the world’s factory floor - a haven of cheap labor and minimal regulatory oversight for…