China is ‘world’s sole manufacturing superpower’, with 35% of global output — Ben Norton

Summary:
China’s state-led economic development model and robust industrial policy has transformed it into what an influential European think tank calls “the world’s sole manufacturing superpower”, making up 35% of global gross production – more than the 9 next largest manufacturers combined.…China has overseen world-historic economic growth through a government-led development model, in which state-owned enterprises control the natural monopolies and “commanding heights” of the economy, state-owned banks give favorable loans to strategic industries, and the state’s robust industrial policy helps the country move up the value chain toward higher value-added forms of production.Geopolitical EconomyChina is ‘world’s sole manufacturing superpower’, with 35% of global outputBen Norton See

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