China to overtake US as largest manufacturer

China to overtake US as largest manufacturer

www.ft.com

China to overtake US as largest manufacturer

By Peter Marsh in London

Published: August 10 2008 22:37 | Last updated: August 10 2008 22:37

China is set to overtake the US next year as the world’s largest producer of manufactured goods, four years earlier than expected, as a result of the rapidly weakening US economy.

The great leap is revealed in forecasts for the Financial Times by Global Insight, a US economics consultancy. According to the estimates, next year China will account for 17 percent.

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Well this is a no-brainer. It’s been hard to find a descent paying manufacturing job for a long time now. All the good jobs have gone overseas and the dead end go nowhere jobs have remained here. Now I guess even those jobs are going. Just last week it was in the local newspaper here in northeast PA that a Hanes undergarment factory was closing and going overseas…155 people are going to loose their jobs in an already economically depressed area. How the hell are people supposed to survive. Of course, the rich won’t be affected by this one bit. In fact, they stand to become richer from it.

www.ft.com
(visit the link for the full news article)

Hell I thought Mexico already did this! That's where all the manufacturers went that used to be in our neck of the woods!

I thought people would jump on this news. I suppose nobody is interested with the crisis in Georgia.

I thought china lapped us years ago . Interesting .

I thought China was already out-producing the US.

... huh... Oh well.
If this is 4 years ahead of schedule, then it's either a sign the Chinese economy is booming, or that the US economy is failing horribly.

I hope it's China getting better... I'm not even going to cross my fingers for that one.

Back to the Georgian/Ossetian/Russian conflict I go.

I'm interested, but I can't make the manufactures return here. Yes, the job market will become that much harder. Now all that is needed is for a huge mass infiltration of illegals. Then have the president give them citizenship just because they are here like Bush wanted to do awhile ago. Then the those people will take away our minimum wage service jobs.

What is left for the middle class and poor US citizen? Practically nothing.

I know I'm feeling this economic downturn real good. I have a minimum wage job that is basically keeping our mortgage paid along with one or two other bills after taxes and gas. My husband is having a hard time finding a decent job.

It really does hurt right now.

reply to post by Mystery_Lady

The factory owner makes bigger profit if things are made in China. The Chinese work for 50 cents an hour. This is free trade our president is talking about. You should thank George W for this.

This is why we should be careful about starting a new cold war with Russia. In that situation the only country I see emerging as a superpower is China, who is sure to stay out of it and play both sides for whatever they can get.

It is a no-brainer... 1.3 Billion people there, it would only stand to reason they would have more factories.. They can have it.. and the pollution that goes with it.