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Tuesday, April 21, 2009

SURPRISE (MAYBE)! THE US IS THE WORLD'S LARGEST MANUFACTURING COUNTRY

Today's Buggy Topic

The "surprise" would be aimed at the general public, which thinks the US economy has so de-industrialized that it no longer produces much of anything in the way of "real goods" except for agriculture.  In fact, as you'll see if you click here --- a link to a data-filled buggy commentary left at Economist's View, an admirable economic blog ---- US manufacturers produce $2.50 worth of goods for every $1.00 that Chinese manufacturers, usually working in multinational corporate factories, happen to produce.  On the other hand, as you'll also see, US manufacturing employment has declined from about 35% of total US employment in the late 1960s to around 12% today . . . a trend, though, at work since the end of the sixties found as well in the UK, France, Germany, and Japan.