China Overtakes US Manufacturing

China Overtakes US Manufacturing

Wednesday, January 02, 2008 - FreeMarketNews.com

Despite breathless media reports about the World Bank revising downward its estimate for the size of China's economy, what the figures really show is that China has indeed overtaken the United States in manufacturing output. As an industrial giant, China needs to be taken seriously as an international economic force and a strategic and military power, says John J. Tkacik Jr., a senior research fellow in the Asian Studies Center at the Heritage Foundation. China's new status is not surprising: China has been the world's leading producer of steel, copper, aluminum, cement, and coal for several years. As a consumer, China surpassed Japan as the globe's second largest importer of petroleum in 2005. In 2006, China surpassed Japan as the world's No. 2 auto market, with total sales of 7.2 million vehicles and production of 7.3 million. In 2007, China also became the world's top producer of merchant ships. -National Center for Policy Analysis
-----------------------------
chinese economy is still getting momentum,i expect more overtaking in the future.

[edit on 26-5-2008 by haidian]

Good for them. I just hope it isn't a house of cards. Also, I hope their government eventually does something about all that pollution.

chinese economy was developed from old era's self reliance principle,so its industry is very comprehensive and capable of producing all kinds of products,and it also has a huge domestic market.so i wont worry anything can really hurt china's economy much.and i expect the high speed growth will contiune for at least another decade.as for pollution,yes,i agree,the whole world should work together to cut the pollution.more money should be spent on that.

China beats Germany to take world trade crown

By Ambrose Evans-Pritchard and Mark Kleinman
Last Updated: 12:17am BST 26/10/2007

China has surged ahead of Germany for the first time to become the world's top exporter, prompting ever louder demands from the United States and Europe to revalue the yuan.

China beats Germany to take world trade crown. Beijing let the yuan break through the key barrier of 7.5 to the dollar yesterday
The euro has risen 18pc against the yuan over two years.
The EU's trade deficit with China may top $220bn this year

Data from the World Trade Organization show that the country vaulted past the US at the beginning of this year and has since moved at lightning speed to eclipse Germany's once indomitable export machine. It shipped $111bn (£54bn) worth of goods in August, up 55pc from a year earlier.

Now boasting 8pc of global exports – three times the Britain's dwindling share – China has jumped up the technology ladder. Machinery, equipment and cars now make up 46pc of total exports, while textiles are fading from the picture.

Europe is buckling under China's export blitz. The euro has risen 18pc against the yuan over two years. The EU's trade deficit with China may top $220bn this year.

some other chinese overtaking in recent 2 years.

China overtakes US as biggest passenger car producer

China Overtaking Us for Fast Internet Access As Africa Gets Left Behind

China overtakes US as world's top consumer

China overtakes US as world's biggest user of internet

China Overtakes S. Africa as Top Gold Producer

China overtakes U.S. as supplier of IT goods

China overtakes U.S. as global electro-mechanical exporter

China Overtakes U.S. As World's Largest Tech Supplier

China fast becoming the world's shipyard
-----------------------------------
china still has a long way to go to catch up with developed countris,but now it is a good start.

But what about their currency? What if the trade balance between Western countries and China devalues the American dollar so much that they can't afford Chinese stuff anymore? The only countries you can take to the bank right now are Russia and Canada. Until oil's replaced that is.

[edit on 26-5-2008 by Merle8]

There is no point to show off such overtaking. We have too many problems to cope with.

To Merle8. China has done a lot to improve environment but more works need to be done. One issue is that many pollution-intensive factories have been shut down, which has made unemployment a serious problem in some areas of China even when the macro economy is so hot now. As to the currency issue, it's more like an American problem than Chinese problem. Large trade deficit of US is not sustainable. I think Chinese currency should keep appreciating, but slowly. It's good for both China and US. Actually China has been more and more relying on its booming domestic demand than foreign demand.

reply to post by haidian


This doesn't mean anything to me or to the 90% poor people in China. We still have too much pressing social, economic and political issues which we should take care of first please.

those progress will create great wealth for the nation and the wealth will come down to the people to enjoy,a rising tide lifts all boats.

Originally posted by IchiNiSan
reply to post by haidian

 

This doesn't mean anything to me or to the 90% poor people in China. We still have too much pressing social, economic and political issues which we should take care of first please.

couldn't agree more. China is still a developing country. people are still not so rich. there are too much problem need us to deal with.

Originally posted by haidian
those progress will create great wealth for the nation and the wealth will come down to the people to enjoy,a rising tide lifts all boats.

How ironic... that's the same thing generations of Americans believed too

reply to post by zhangxi0183


but if people become rich then who is going to be making all the goods for the western market at low prices...

the future is Africa!

Originally posted by purplemonkey
the future is Africa!

probably

Originally posted by zhangxi0183

Originally posted by purplemonkey
the future is Africa!

probably

probably, but most likely not.

I see three superpower blocs in the future. USA, European Union and China.

reply to post by IchiNiSan


what no India? or Russia... the second greatest nuclear power in the world..