That's true. It happened in 2010. The Chinese are manufacturing more that the U.S. That's likely to continue at least into the near future.
My point is that the Chinese need to employ a very large percentage of their population to accomplish this. And they have 1.3 billion people compared to the U.S 300 million or so. That's 4 times as many people. And U.S. manufacturing, because of automation, requires a very small percentage of the population to be involved in manufacturing.
And, as noted, we are selling Boeing 747s and they are selling plastic toys. (OK, I exaggerate, but you see my point.)
Bottom line: Comparing Chinese manufacturing and U.S. manufacturing is sort of an apples/oranges deal. You have to be careful.
It’s unlikely, actually. Manufacturing in China is artificial and is even now slowing down. They can only build giant cities with no one living in them for so long. They can also only inflate their numbers fraudulently for only so long.
Yes and no.
China exports more than we do now.
China also has much lower unemployment. So we have more unemployment, and spend money to keep those unemployed fed - which china continue to sell all sorts of things to America unhindered, and continues to grow.
That is unfair, and I oppose it. We need to stop buying everything imported.
It is beyond foolish now. It is becoming dangerous.
Buy American.