China Ousts US as World's Top Manufacturer
China accounts for 19.8 percent of the world's manufacturing output, compared with the U.S. at 19.4 percent.
The U.S should be concerned, experts tell the Financial Times.
"This shows the need for the U.S. to compete in the future not on the basis of commodity manufacturing but on innovation and new kinds of services that are driven by production industries," says Deborah Wince-Smith, chief executive of the Council on Competitiveness, a Washington-based business group.
March 14, 2011