For years, the world has perceived China as the largest manufacturing hub globally. However, this isn’t always the case. In fact, before 2009, the US still held the largest share of global manufacturing output.
As of 1980, China’s manufacturing output stood at nearly $134 billion. This figure surged to approximately $4.8 trillion in 2023, representing a staggering increase of nearly 3,500%. During this four-decade period, China’s share of global manufacturing rose from 5% to almost 30%, while the US’s share declined from 21% to 17%.
When China joined the World Trade Organization (WTO) in 2001, its share of global manufacturing was only around 7%, compared to the US’s 28%. WTO membership opened up China’s economy to the world, rapidly changing its status and transforming the country into the “world’s factory.”
The Domestic Market: A Lifeline, Not a Solution to the Timber Industry’s Tariff Troubles
The wood industry representative acknowledged: “Despite being an indispensable support for businesses in the context of volatile global trade, the domestic market is not yet large enough to compensate for export activities.”
The US Retaliates with a 46% Tariff: What Does This Mean for Vietnam’s Inflation, Exchange Rates, Interest Rates, and Banking Sector?
I predict that inflation will remain within the government’s target and that it will be manageable. This provides a solid foundation and opportunity for the State Bank to harmonize its control tools.
The Art of Negotiation: Gemadept, CII, BAF, and the Impact of US Tax Policies – Insights from the Timber, Textile, and Seafood Industries.
Large corporations on the stock market, along with their leaders, are now able to provide swift feedback to their partners, investors, and shareholders.
Unlocking Growth: Vietnam-Guangxi (China) Trade Partnership
With a mutual goal of expanding their scope and presence, the two sides aim to gradually balance the trade scales between Vietnam and China. This comes at a time when global commerce is facing pressures from mounting trade tensions between major world economies.
The Nuclear Power Paradox: Contrasting Paths for China and Germany
The infographic below compares the nuclear energy trajectories of China and Germany, Asia’s and Europe’s largest economies.
