8 industries China leads where the US used to

[beijingwalker]

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8 industries China leads where the US used to

Steel, cars, even beer, as nation closes in on America for GDP dominance
By Charles B. Stockdale and Douglas A. McIntyre
updated 1/30/2012 2:47:40 PM ET

Americans are used to the U.S. being the leader, or a top-ranked nation, in many areas. But in a number of industries and businesses, the U.S. has lost that first place, usually to China. While some, such as coal production, may not come as a surprise, other industries the U.S. has lost the market leadership might. 24/7 Wall St. looked at a large number of manufacturing, agricultural and financial businesses to find those in which China has surpassed the U.S.

1. Steel

China production: 627 million metric tons in 2010
U.S. production: 80 million metric tons in 2010
U.S. position: 3rd

In 1973, the U.S. was the largest producer of steel, making more than 136 million metric tons of crude steel, according to the International Iron and Steel Institute. Up to that point, the U.S. had enjoyed many decades of industry dominance, centered around the city of Pittsburgh. The following year, U.S. production was overtaken by the USSR, which produced 136.2 million metric tons, compared with the U.S.’s 132.2 million. Today, however, completely different players dominate the steel market. In 2010, the world’s top producer of crude steel was China, which produced approximately 627 million metric tons. Japan was a distant second-largest producer with nearly 110 million metric tons. The U.S. was third, producing approximately 80 million.

2. Cotton
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China production: 7.3 million metric tons in 2011
U.S. production: 3.4 million metric tons in 2011
U.S. position: 3rd

In 2000, the U.S. produced 4.2 million metric tons of cotton — the largest amount in the world. China was not far behind, producing 3.81 million metric tons. By 2008, however, China had not only surpassed the U.S., but made nearly double the U.S.’s production amount. China produced approximately 8.1 million metric tons to the U.S.’s 4.2 million. A year earlier, the U.S. lost its second spot among top cotton producers to India, thanks in part to technological breakthroughs in seed and production practices. Between 2011 and 2012, China produced 7.3 million metric tons, India produced 6 million and the U.S. was third, producing 3.4 million.

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3. Initial Public Offerings

China production: $73 billion raised in 2011
U.S. production: $30.7 billion raised in 2011
U.S. position: 2nd

Even in the world of finance the U.S. is losing its dominance to China. According to the National Bureau of Economic Research, “the yearly average of U.S. IPOs has decreased from 27 percent (global share) in the 1990s to 12 percent in the 2000s.” And as the U.S.’s share of IPO proceeds decreased, China’s share increased. It is now the world leader in IPOs. In 2011, companies raised a total of $73 billion through IPOs in the Shanghai, Shenzhen and Hong Kong stock markets. This is nearly double the amount raised in New York Stock Exchange and NASDAQ, according to Dealogic. The last time the U.S. raised the most in IPO funds globally was 2008.

4. Tobacco

China production: 3 million metric tons in 2010
U.S. production: 0.33 million metric tons in 2010
U.S. position: 4th

Until 1976, the U.S. produced the largest share of the world’s tobacco. Today, the U.S. only produces 6 percent of the global output, according to Stephan Richter, editor-in-chief of The Globalist, in an interview by Marketplace. The most recent data from the Food and Agriculture Organization of the United Nations places the U.S. as the fourth-largest producer of tobacco in the world. China is the largest, producing more than 3 million metric tons of the crop in 2010. The U.S. produced slightly more than 326,000 metric tons that year. The other larger producers are Brazil and India, in that order.

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5. Autos
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China production: 18.3 million autos in 2010
U.S. production: 7.8 million autos in 2010
U.S. position: 3rd

Automotive manufacturing is considered one of the U.S.’s most critical industries. But in recent years, other countries have surpassed the U.S., which is now the third-largest producer of autos in the world, according to the International Organization of Motor Vehicle Manufacturers. The American auto industry nearly collapsed in 2008, requiring massive federal support for General Motors and Chrysler. By 2010, the U.S. manufactured 7.8 million cars and commercial vehicles. Japan, which is headquarters to major brands such as Toyota, Honda, Nissan, and Mazda, produced 9.6 million vehicles — the second most — although damage caused by the earthquake has hurt production in the country. China is the world’s largest carmaker, producing 18.3 million in 2010.

6. Beer Production

China production: 443.8 million hectoliters in 2010
U.S. production: 227.8 million hectoliters in 2010
U.S. position: 2nd

The U.S. lost its top position even in beer production. In 2000, the U.S. beer industry was the greatest in the world, producing 232 million hectoliters, compared with China’s 220 million. One decade later, and China is in first place, generating 443.8 million hectoliters of beer, versus the U.S.’s 227.8 million. Not only does China have a population that is more than four times that of the U.S., but beer consumption in the country has increased dramatically in recent years. According to the World Health Organization, the average Chinese citizen drank about half a bottle of beer in 1961. By 2007, that amount had increased to 103 beers per year.

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7. High-Technology Exports

China production: $348 billion in 2009
U.S. production: $142 billion in 2009
U.S. position: 2nd

High-technology exports are defined as “products with high R&D intensity, such as in aerospace, computers, pharmaceuticals, scientific instruments, and electrical machinery,” according to the World Bank. The U.S. remains home to the largest pharmaceutical industry in the world, and the rest of industries mentioned are also huge domestically. According to the World Bank, China began earning more from high-technology exports than the U.S. as recently as 2005. In 2009, Chinese high-technology exports were worth $348 billion. High-technology exports from the U.S. were worth a more modest $142 billion.

8. Coal Production

China production: 3.24 billion short tons produced in 2010
U.S. production: 985 million tons produced in 2010
U.S. position: 2nd

America led the world in coal production up until 1984, and it is now a distant second to China. According to the BP Statistical Review of World Energy, the U.S. produced just under 1 billion tons of coal in 2010. China produced more than three times that amount, generating 3.2 billion short tons. There has been exponential growth in the Chinese energy infrastructure in the past decade. Since 2005, American coal production has decreased slightly, while Chinese production has increased by nearly 38 percent. Despite the U.S.’s decline in coal production, it is still the world’s second-largest producer, and combined, the two countries account for more than half of the world’s total coal production.

[JayAtl]

look maa- he is comparing US and China is the same breath. A third world country as their own govt calls themselves citing domestic consumption or industries we don't play in much. Africa does better than the US in many categories too. BUT I'm all for such articles- Hope we see our fellow Chinese americans flocking back to china because of what they are missing out.

[Infinite]

look maa- he is comparing US and China is the same breath. A third world country as their own govt calls themselves citing domestic consumption or industries we don't play in much. Africa does better than the US in many categories too. Hope we see our fellow Chinese americans flocking back to china.

Well I don't think comparison with Africa is valid - perhaps should be compared with India after all
BBC News - 'More poor' in India than Africa

[aazidane]

its the quality bro, american steel quality is the best in the world. American pima cotton rivals egyptian cotton, where chinese cotton is full of contamination. american tobacco is still the best in the world, americans dont like sharing their hi tech for obvious reasons and coal is a natural resource of the past.

[beijingwalker]

China is an Upper-middle-income country,where is India?

The World Bank classifies countries into four income groups. Its latest report divides economies according to per capita gross national income (GNI):

Low-income: Countries with per capita GNI below 1,006 US dollars.

Lower-middle-income: Countries with per capita GNI between 1,006 US dollars and 3,975 US dollars.

Upper-middle-income: Countries with per capita GNI between 3,976 US dollarsand 12,275 US dollars.

High-income: Countries with GNI above 12,276 US dollars.

[aazidane]

China is an Upper-middle-income country,where is India?

i thought this thread was about us and china.

[OrionHunter]

Steel, cars, even beer, as nation closes in on America for GDP dominance.

Sorry to burst your bubble, but all this is short lived. China's economy is mostly dependent on exports and not domestic consumption. Seeing the global slowdown, China's exports are falling apart.

European imports from China will be much, much lower going forward. Falling freight rates imply that European demand is falling at an alarming rate. China reported its biggest trade deficit last month since 1989, adding to last week’s releases on factory output and retail sales that signaled slowing growth.

But concerns have also grown that China, the so called 'world's workshop' is beginning to suffer from falling demand from not only Europe but America too. China's gigantic export sector is simultaneously the source of China's strength and also its great weakness. Even the most prosperous of shops cannot remain in business if its customers decide to stop buying.

The country's leadership is certainly preparing for a slowdown. At the annual meeting of the National People's Congress in Beijing last week, the Chinese premier, Wen Jiabao, lowered this year's growth target from 8 per cent to 7.5 per cent.

So the question is, will the Chinese economic landing be hard or soft? I think it's going to be pretty much hard - like falling off a cliff!

Cheers!

[beijingwalker]

i thought this thread was about us and china.

then why Indians came in and shouted foul.

Sorry to burst your bubble, but all this is short lived. China's economy is mostly dependent on exports and not domestic consumption. Seeing the global slowdown, China's exports are falling apart.

European imports from China will be much, much lower going forward. Falling freight rates imply that European demand is falling at an alarming rate. China reported its biggest trade deficit last month since 1989, adding to last week’s releases on factory output and retail sales that signaled slowing growth.

But concerns have also grown that China, the so called 'world's workshop' is beginning to suffer from falling demand from Europe and America. China's gigantic export sector is simultaneously the source of China's strength and also its great weakness. Even the most prosperous of shops cannot remain in business if its customers decide to stop buying.

The country's leadership is certainly preparing for a slowdown. At the annual meeting of the National People's Congress in Beijing last week, the Chinese premier, Wen Jiabao, lowered this year's growth target from 8 per cent to 7.5 per cent.

So the question is, will the Chinese economic landing be hard or soft? I think it's going to be pretty much hard - like falling off a cliff!

Cheers!

lol,many western countries have been wishing what you said above for decades,feel free to join them,and keep hard on wishing.

[JayAtl]

then why Indians came in and shouted foul.

American did . Not indian : and why does it matter if an indian did. Per your high IQ if you put out a claim, it is only subject to be refuted by said nationalities in that post?...

[aazidane]

This is a pakistani defense forum and this thread was made in the world affairs section. I believe any citizen of the planet earth has the birth right to post in this topic for that.

[ChinaToday]

American did . Not indian : and why does it matter if an indian did. Per your high IQ if you put out a claim, it is only subject to be refuted by said nationalities in that post?...

Look whos talking here 81iq indian from a backward country so far behind china telling us what to do LOL

[Shardul.....the lion]

And they say India loves to boast.

LOL Now who is boasting loud.................

[Holmes]

China is an Upper-middle-income country,where is India?

Lower-middle-income Country.

[JayAtl]

China is an Upper-middle-income country,where is India?

India is where a country making a third of your GDP is. Where were you when you made the same GDP as them? Chinese here somehow find some solace in comparing or egging India on when they make a third of your GDP.

On the other hand where is China vs. US? You make 1/2 of our GDP and you are less than $2000 income per family vs. our $40,000! I pay my house cleaners more than your average family earns in year.

[Sonyuke_Songpaisan]

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we often hear that China will collapse. But the truth is china is the only country existing for 5000 years in the world.

Chinarocks.