MSNBC reports, in a somewhat surprised tone, that Despite China’s might, U.S. factories maintain edge – U.S. factories out-produce Chinese manufacturers by more than 40%:
“America remains by far the No. 1 manufacturing country. It out-produces No. 2 China by more than 40 percent. U.S. manufacturers cranked out nearly $1.7 trillion in goods in 2009, according to the United Nations.
What’s changed is that U.S. manufacturers have abandoned products with thin profit margins, like consumer electronics, toys and shoes. They’ve ceded that sector to China, Indonesia and other emerging nations with low labor costs.
Instead, American factories have seized upon complex and expensive goods requiring specialized labor: industrial lathes, computer chips, fighter jets, health care products.”
I could have called this post Globalization 101. Or how the media fools you, 101.
In any case, just another reminder of just how far the Empire has fallen… Horrible, horrible times.