China now the world’s biggest industrial producer
BOFIT Viikkokatsaus / BOFIT Weekly, 11/2011, 3/18/2011
China now the world’s biggest industrial producer. At the start of the week, both the Financial Times and Bloomberg referenced a report by IHS Global Insight that found the value of China’s industrial production in 2010 slightly exceeded that of the US. The US and China each now account for about a fifth of global industrial production. In China, that manufacturing value-added (MVA) is achieved with about 100 million workers. The same of MVA is achieved in the United States with just over 11 million workers. The IHS Global Insight comparison used last year’s output measured in US dollars and nominal exchange rates.
BOFIT Viikkokatsaus / BOFIT Weekly, 11/2011, 3/18/2011
China now the world’s biggest industrial producer. At the start of the week, both the Financial Times and Bloomberg referenced a report by IHS Global Insight that found the value of China’s industrial production in 2010 slightly exceeded that of the US. The US and China each now account for about a fifth of global industrial production. In China, that manufacturing value-added (MVA) is achieved with about 100 million workers. The same of MVA is achieved in the United States with just over 11 million workers. The IHS Global Insight comparison used last year’s output measured in US dollars and nominal exchange rates.