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China is world's biggest manufacturer |
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Written by Stumo
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Tuesday, 08 January 2008 |
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This Heritage Foundation piece
debunks the World Trade Organization's recent findings that China's
economy is much smaller than we thought. China has actually
passed the U.S. as the world's leading manufacturing economy.
Now that China's manufacturing sector has nosed past the United
States, America's political leaders must begin to contemplate what
China's economy will look like in another five years. It will likely be
half-again bigger than America's industrial sector, giving China the
capacity to assemble the building blocks of a military superpower.
To repeat, China is now bigger than the U.S. in manufacturing.
Right now. Our biggest geopolitical rival - not our enemy, but
our rival.
China had the tools to unilaterally increase its trade surplus and create rocketing economic growth - and they used them.
The
U.S. has the tools to neutralize the unfairness from currency
manipulation, VAT tariffs, foreign subsidies, etc. - and we do not use
them. Someone might call us "protectionist" for neutralizing the
protectionists.
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