3min chapter

Plain English with Derek Thompson cover image

"Industrial Policy" Is the Hottest Idea in Economics. What Could Go Wrong?

Plain English with Derek Thompson

CHAPTER

The US Manufacturing Frontier Has Moved to East Asia

US share of global manufacturing declined from 37% in 1990 to 12% in 2020. Meanwhile, mainland China grew from zero to 15%. Taiwan and South Korea each account for a little over 20% each. If we were still buddy buddy with China, that this, that the manufacturing frontier had moved to East Asia, it is because of the shift in Chinese politics.

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