You can't quantify manufacturing by looking around. What you see is cheap consumer products with low value added.
If you follow value chains for products manufactured in China, you quickly notice China imports high value added manufacturing products from other countries (including the US) then assembles them with cheap workforce and adds cheap components.
You can't quantify manufacturing by looking around. What you see is cheap consumer products with low value added.
If you follow value chains for products manufactured in China, you quickly notice China imports high value added manufacturing products from other countries (including the US) then assembles them with cheap workforce and adds cheap components.