According to Peter Gorenstein
http://www.freerepublic.com/focus/f-news/2688608/posts
Ending a 110-year run for America as the world's dominant produce, China has overtaken the United States as the world's largest producer of goods. According to economics research firm IHS Global Insight, China manufactured 19.9% of the world's goods in 2010, while the U.S. accounted for 19.4%.
This marks the first time since 1850 that China has held the crown as the world's largest manufacturer, the latest sign of the nation's economic resurgence. (See: China Overtakes Japan in Economic Clout: Is the U.S. Next?)
The U.S. “should be worried” by the news, Deborah Wince-Smith, chief executive of the Council on Competitiveness, tells The Financial Times. “This shows the need for the U.S. to compete in the future not on the basis of commodity manufacturing but on innovation and new kinds of services that are driven by production industries."
http://www.freerepublic.com/focus/f-news/2688608/posts
Ending a 110-year run for America as the world's dominant produce, China has overtaken the United States as the world's largest producer of goods. According to economics research firm IHS Global Insight, China manufactured 19.9% of the world's goods in 2010, while the U.S. accounted for 19.4%.
This marks the first time since 1850 that China has held the crown as the world's largest manufacturer, the latest sign of the nation's economic resurgence. (See: China Overtakes Japan in Economic Clout: Is the U.S. Next?)
The U.S. “should be worried” by the news, Deborah Wince-Smith, chief executive of the Council on Competitiveness, tells The Financial Times. “This shows the need for the U.S. to compete in the future not on the basis of commodity manufacturing but on innovation and new kinds of services that are driven by production industries."
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