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

by atwrk 2y ago

Here, US manufacturing output is up 50% since 2010: https://www.macrotrends.net/global-metrics/countries/USA/united-states/manufacturing-output 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 2y 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.
- jgwil2 2y ago
  Pretty big goalpost shift from "who believes these cooked up numbers" to "perception matters."
  - kelipso 2y ago
    The numbers are cooked up. See https://qz.com/1269172/the-epic-mistake-about-manufacturing-thats-cost-americans-millions-of-jobs https://qz.com/1269172/the-epic-mistake-about-manufacturing-... from above. Basically if you ignore computers, there was zero growth in manufacturing sector. If you take computers into account but ignore processing power increase, there was zero growth. So pretty much the only driving force in the manufacturing sector for the last 20 years was Intel, AMD, Nvidia. This is even with the increased productivity per person in manufacturing sector (so there was also massive reduction in employment). It is highly concerning and the numbers were very much cooked up.

by atwrk 2y ago

kelipso 2y 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.

jgwil2 2y ago
Pretty big goalpost shift from "who believes these cooked up numbers" to "perception matters."
- kelipso 2y ago
  The numbers are cooked up. See https://qz.com/1269172/the-epic-mistake-about-manufacturing-thats-cost-americans-millions-of-jobs https://qz.com/1269172/the-epic-mistake-about-manufacturing-... from above. Basically if you ignore computers, there was zero growth in manufacturing sector. If you take computers into account but ignore processing power increase, there was zero growth. So pretty much the only driving force in the manufacturing sector for the last 20 years was Intel, AMD, Nvidia. This is even with the increased productivity per person in manufacturing sector (so there was also massive reduction in employment). It is highly concerning and the numbers were very much cooked up.