U.S. manufacturing still tops the list

According to official statistics from the United States, in 2006, the total value of China's exports to the United States reached 287.8 billion US dollars, while the total value of US exports to China was only 57.2 billion US dollars. On the surface, China's manufacturing industry beat the US manufacturing industry, but analysis The figures do not provide a complete picture of U.S. productivity, said the report. According to the Hong Kong Economic Journal, although China is known as the 'world's largest factoryIt is difficult to see the United States back in a short period of time. According to official statistics from the United States, in 2006, the total value of China's exports to the United States reached 287.8 billion US dollars, while the total value of US exports to China was only 57.2 billion US dollars. On the surface, China's manufacturing industry beat the US manufacturing industry, but analysis The figures do not provide a complete picture of U.S. productivity, said the report. The analysis pointed out that although China is the leader in producing low-cost and labor-intensive products, American factories actually produce more products, and their value is higher. In global manufactured goods, US products account for 21% of the total value, while Chinese products, although they account for an increasing proportion, are still only 8%. According to the analysis, there are three main factors that make it more favorable for manufacturing to produce in the United States. First, products that are extremely transport-dependent, high-tech, or capital-intensive, rather than labor-intensive, typically remain produced in the United States. Take the U.S. auto industry as an example. Although many cars are imported from Japan and South Korea, Japanese carmakers such as Toyota and Honda still have to set up factories in the United States. This way, American factories can be used to get closer to American consumers, thereby saving expensive transportation. cost. Second, in high-tech products such as biotechnology and aerospace equipment, American manufacturing still cannot be replaced. Finally, the United States still has strong legal protection in intellectual property protection, and has a high guarantee for the manufacturing industry. Therefore, the analysis predicts that it will take a long time for China's manufacturing industry to fully catch up with the United States.