China is expected to surpass the U.S. in production of manufactured goods in 2009. Yet, did you know that China has lost more manufacturing jobs in the last decade or so than the U.S. Has? Between 1995 and 2002, the U.S. lost 2 million manufacturing jobs while China lost 15 million, according to the Conference Board.
And now, China aims to move up the manufacturing chain to higher-return products and fewer low-cost items. What does this mean for the United States?
Source: Managing Automation