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Comment by kelipso

17 days ago

I'm not the one making unbelievable statements. Were you one of those people who said there was no inflation at all until the last possible moment?

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kelipso

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atwrk  17 days ago

Here, US manufacturing output is up 50% since 2010: https://www.macrotrends.net/global-metrics/countries/USA/uni...

That it's relative share in GDP is down during that time means that other sectors were growing even faster (think Google, Netflix and so on, so services instead of things). That the service sector gains in relative importance is actually a sign of an advanced economy, every modern economy looks like that, not just the US.

  • kelipso  17 days ago

    In the end, the problem is that China manufacturing output is $4.6 trillion according to those numbers while the US is $2.5 trillion, while it was around the same back in 2010. This, along with its decline in percentage of GDP is causing the perception, and it also is causing decline in employment in manufacturing. The perception matters ideologically and the employment issues matters materially, and so we have these tariffs as an effort to bring manufacturing back to the US.