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Wake-up call for industry

By Zhang Monan  (China Daily)

08:51, August 21, 2012

China has to change its manufacturing strategy to be more innovative in technology and compete with a 'reviving' US

China is expected to face fiercer-than-ever competition from the United States in the manufacturing sector, making it all the more urgent for Beijing to expedite its industrial upgrade.

The US' "re-industrialization" strategy and its accelerated efforts to "return" to manufacturing in the wake of the global financial crisis are re-forging the world's manufacturing landscape.

The "Buy America" movement launched by the Barack Obama administration, the Manufacturing Enhancement Act it has passed, the plan to double US exports within 5 years and the measures to increase employment, all aimed at helping the US revive its declining manufacturing sector, have produced and are producing some positive results.

Statistics show that an additional 237,000 jobs were created in the US' manufacturing sector alone in 2011, and this momentum has gained steam. The US' manufacturing output is estimated to grow by 4 percent this year and 3.5 percent the next, both higher than its expected GDP growth during the same period.


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