Forget the Olympics—China's Victory Starts Next Year

Nick Gillespie | August 11, 2008

China is set to overtake the US next year as the world's largest producer of manufactured goods, four years earlier than expected, as a result of the rapidly weakening US economy.

The great leap is revealed in forecasts for the Financial Times by Global Insight, a US economics consultancy. According to the estimates, next year China will account for 17 per cent of manufacturing value-added output of $11,783bn and the US will make 16 per cent.

Last year the US was still easily in the top slot and accounted for a fifth of the total. China was second with 13.2 per cent.

More here.

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Meanwhile, at the Olympics.