China's Manufacturing Advantage
Thursday, December 5, 2024
In the year 2000, the United States and its allies in Asia, Europe, and Latin America accounted for the overwhelming majority of global industrial production, with China at just 6% even after two decades of rapid growth. Just thirty year later, UNIDO projects that China will account for 45% of all global manufacturing, singlehandedly matching or outmatching the U.S. and all of its allies. This is a level of manufacturing dominance by a single country seen only twice before in world history — by the UK at the start of the Industrial Revolution, and by the U.S. just after World War 2.
“Manufacturing is war now.” Noahopinion, Dec. 4.