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China To Overtake USA In Manufacturing
Posted By aaron On June 21, 2010 @ 3:09 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled
June 21, 2010
The US remained the world’s biggest manufacturing nation by output last year, but is poised to relinquish this slot in 2011 to China – thus ending a 110-year run as the number one country in factory production.
The figures are revealed in a league table being published on Monday by IHS Global Insight, a US-based economics consultancy.
Last year, the US created 19.9 per cent of world manufacturing output, compared with 18.6 per cent for China, with the US staying ahead despite a steep fall in factory production due to the global recession.
That the US is still top comes as a surprise, since in 2008 – before the slump of the past two years took hold – IHS predicted it would lose pole position in 2009.
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