Redirection of the World’s Manufactured Goods?
The United States continues to be the world’s great consumer. Imports to the United States of manufactured goods were nearly $1.72 trillion in 2011, and since 2001 have increased by 79%. China is by far the leading exporter of manufactured goods to the United States ($390.6 billion in 2011), nearly double that of second-place Canada ($207.3 billion).[1] More telling is how imports have changed in the past 10 years. China manufacturing exports to the United States rose 292% as that nation achieved manufacturing expertise combined with low-cost labor; among the top 10 manufactured-goods exporters to the United States, only [...]