China Bests United States In Several Industries
January 31, 2012 by Sam Rolley
A new report by 24/7 Wall St. details a number of industries in which the United States once led world production that are now dominated by China.
China’s gross domestic product is measured at about $6.5 trillion and America’s GDP is more than $15.2 trillion, according to the International Monetary Fund. Last year, China’s economy expanded at more than 9 percent. America’s GDP grew only 2 percent. Most economists expect China’s economy to surpass the United States’ in the next decade or two.
The eight industries in which China has already outperformed the United States are:
1. Steel
China production: 627 million metric tons in 2010
U.S. production: 80 million metric tons in 2010
U.S. position: Third
2. Cotton
China production: 7.3 million metric tons in 2011
U.S. production: 3.4 million metric tons in 2011
U.S. position: Third
3. Initial Public Offerings
China production: $73 billion raised in 2011
U.S. production: $30.7 billion raised in 2011
U.S. position: Second
4. Tobacco
China production: 3 million metric tons in 2010
U.S. production: 0.33 million metric tons in 2010
U.S. position: Fourth
5. Autos
China production: 18.3 million autos in 2010
U.S. production: 7.8 million autos in 2010
U.S. position: Third
6. Beer Production
China production: 443.8 million hectoliters in 2010
U.S. production: 227.8 million hectoliters in 2010
U.S. position: Second
7. High-Technology Exports
China production: $348 billion in 2009
U.S. production: $142 billion in 2009
U.S. position: Second
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: Second
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