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totalZero | 2 years ago
China totally outclasses the USA when it comes to manufacturing.
https://www.statista.com/chart/28031/manufacturing-racing-ba...
totalZero | 2 years ago
China totally outclasses the USA when it comes to manufacturing.
https://www.statista.com/chart/28031/manufacturing-racing-ba...
edgyquant|2 years ago
This comment gives a better perspective https://news.ycombinator.com/reply?id=36247499&goto=threads%...
Their “miracle” was a US creation, a policy to build them up to create a counterbalance to Russia. It’s gonna take ten years to tell, but China is already feeling these effects and feeling them hard.
dirtyid|2 years ago
That linked comment is also cherry picked stupid. PRC exports to US/west near record levels, WHILE exports to global south has officially surpassed western bloc, i.e. PRC is MORE factory of the world than at any point in the past. The drop in exports is due recent to global economic downturn that saps demand everywhere, but it's sapping from hilariously record high exports during covid. Meanwhile PRC export:GDP is like 20% down from 35% high in 00s, i.e. it's one of the less export dependant major economies in the world responsible for substantial global exports (including heavy industry) but it's not even an export driven economy anymore.
On demographic front, the reality is PRC is minting OECD combined in skilled talent every year and last 5 years of PRC topping citation (controlled for quality), innovation index is just lag affect of PRC growing with fraction of that talent. The PRC miracle is basically doing all that with ~20% skilled workforce, because at PRC scale that's enough to be globally competitive. Now it's in process to grow that competitive workforce to 50-70% skilled in next 30 years, which is adding anohter couple US worth of talent into the mix.
esotericimpl|2 years ago
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