New York Times (December 13)
“By itself the United States cannot keep up with China’s soaring industrial capacity, which translates directly into military might. China has close to a 28 percent share of global manufacturing, while the United States has around 17 percent.” China “is acquiring advanced weapons systems and equipment five to six times faster than America…. The United States now risks finding itself in the position of Britain in the late 19th century and Germany and Japan in the 20th: overtaken militarily by a rising industrial powerhouse.”
Tags: Advanced weapons systems, Britain, China, Germany, Global manufacturing, Industrial capacity, Industrial powerhouse, Japan, Military might, Overtaken, U.S.
Reuters (July 22)
“China’s hardened rhetoric against price wars among producers is raising expectations Beijing may be about to kick off industrial capacity cuts in a long-awaited, but challenging, campaign against deflation that carries risks to economic growth.” Such a campaign would “echo” similar successful “reforms a decade ago to reduce the production of steel, cement, glass and coal, which were crucial to ending a period of 54 consecutive months of falling factory gate prices.” Success may prove elusive this round. “The fight against deflation will be much more complicated and poses risks to employment and growth” while U.S. trade war ”is intensifying price wars, squeezing factory profits.”
Tags: Beijing, Cement, China, Coal, Complicated, Deflation, Economic growth, Employment, Expectations, Glass, Growth, Industrial capacity, Price wars, Producers, Rhetoric, Risks, Steel, Trade war, U.S.
