Could Manufacturing Be The Key To American Lead In Global Economy?

The American Economy has been the largest economy in the world for almost 100 years [1].

But now, the Chinese Economy [2] is very close to the American Economy in terms of size. If the current growth rate continues then the Chinese Economy should surpass American Economy in terms of size within a few years.

How does America keep its position as the largest economy in the world?

Manufacturing could prove vital. 

Manufacturers, miners, utilities and builders accounted for over 45% of China’s GDP in 2012. As the cost of doing manufacturing in China rises and with the advent of new technologies, American companies are thinking of returning manufacturing plants back to America. Some companies including Apple have already taken initiatives.

The return of manufacturing back to the hands of Designers and Engineers could spur innovation. 

References:

[1] Economy Of The United States
[2] Economy Of China