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.
New York Times (July 8)
“China has overtaken Detroit as the center of the global auto industry. America can embark on an all-out push to rebuild world-class manufacturing and supply chains, or our carmakers can hide behind tariffs, continue making gas-powered trucks and S.U.V.s and fade into irrelevance.”
Tags: Auto industry, Carmakers, Center, China, Detroit, Gas-powered, Manufacturing, Overtaken, S.U.V.s, Supply chains, Tariffs, Trucks, U.S.
BBC (November 15)
“Britain’s stock market has lost its position as Europe’s most-valued,” marking “the first time Paris has overtaken London since records began…. The combined value of British shares is now around $2.821 trillion (£2.3 trillion), while France’s are worth around $2.823 trillion.” Factors behind the shift include “a weak pound, fears of recession in the UK and surging sales at French luxury goods makers.”
Tags: $2.823 trillion, Britain, Europe, Fears, First, France, London, Most-valued, Overtaken, Paris, Recession, Records, Shares, Stock market, Surging sales, UK, Weak pound
