US media: Global "Manufacturing Olympics", each of China is not gold or silver

The American "Baron Weekly" article on August 31st, original topic: China's manufacturing industry leads the world, but the competition has not ended the United States as a manufacturing power, from the paper industry to the pharmaceutical industry and other industries. The Chinese manufacturing industry (pictured) may continue to expand and surpass the United States in some key areas such as electrical equipment, chemicals and computers. The recent disclosure of the United Nations "International Industrial Statistics Yearbook" indicates that this conclusion is correct.

Among the 22 types of manufacturing categories in the world tracked and monitored, China has occupied the global leadership in the 16 categories of output. In general industries such as light industries such as clothing and textiles, basic metals, as well as high -end industries such as computers and transportation equipment, China has dominated positions. It is difficult to find an industry in China with a global share of less than 20%, accounting for more than 40%in industries such as electrical equipment, basic metals and computers; more than 50%in the textiles, clothing and leather industries. In other words, if the global manufacturing industry is compared to the Olympic Games, China can get gold or silver medals in every event.

It is impressive that in 2000, China ranks first among the three categories of tobacco, textiles and leather. In 20 years, this backward agricultural economic country has transformed into the world's most important manufacturing power. Even in the face of changes brought by the epidemic, the advantage of China's manufacturing industry is still strong. The global supply chain is more scattered, and it is increasingly not centered on China, at least on the surface. But no other economy has such a huge skilled labor group and such an efficient infrastructure system.

In 2019, China accounted for 29%of global manufacturing output, 17%in the United States, 8%in Japan, and 5%in Germany. In other words, the competition of global manufacturing hegemony is attributed to the dispute between the United States and China. In many investors, the United States does not engage in manufacturing business, and its manufacturing capabilities are either shrinking or transferred overseas. But in fact, the United States is a manufacturing superpower. Among the 22 manufacturing categories tracked by the United Nations, six in the United States ranked first and ranked second among 13 of the other 13, which highlighted the breadth and competitiveness of its manufacturing industry. In other words, the competition is far from over. (The author is Joseph Qinlan, chief market strategist of the United States and Merrill Lynch, translated by Wang Xiaoxiong)

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