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For companies lower labour costs have brought higher profits.
India now comes second, despite its lower labour costs.
This is a "race between education and technology," rather than a race to lower labour costs.
Without lower labour costs that would not be economic, hence the Ineos ultimatum.
In Spain, Portugal and Ireland lower labour costs have boosted exports.
Lower labour costs, down by 13% in the year to autumn 2012, will help.
Chinese firms, with their lower labour costs, are pushing into the market.
The economists' report said that to increase competitiveness, the island should lower labour, electricity and transport costs.
Parts are much cheaper to manufacture there because of the lower labour costs, no matter the costs of later transportation.
Like other European companies, Mondragon is exposed to fierce competition from developing world competitors with lower labour costs.
Moody's said the national minimum wage was likely to favour the discounters because they already had lower labour costs.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com