China To Be #1 Exporting Nation For Manufacturers In 2006
Not only will China overtake the U.S. as the top exporting nation for manufacturers, 60% of its exports are in advanced technology industries.
March 22, 2006 -- Not only will China overtake the U.S. as the top exporting nation for manufacturers, 60% of its exports are in advanced technology industries. These results can be found in a report from the Manufactures Alliance/MAPI released on March 21.
n "The Chinese Export Juggernaut in Manufactures Overtakes the United States and the Policy Implications (ER-603e)", Ernest H. Preeg, Ph.D., senior fellow in trade and productivity, states that U.S. manufactured exports grew by only 1% per year during 2000-2004, compared with an average 25% growth in Chinese exports, while in 2005 the export growth was 10%t and 29%, respectively.
With regard to technological innovation, the report pointed to a growing accumulation of examples of Chinese development of leading edge technologies in both the civilian and defense industry sectors.
Despite China's success, Preeg is optimistic. "The U.S. manufacturing sector remains the strong international leader in technological innovation and development, and it can retain its leadership role, together with a resurgent export performance, for the foreseeable future," Preeg concludes. "This will require, however, a forceful and comprehensive U.S. policy response, at both the international and national levels, which has not yet taken shape."
