Re:US Administration announces 34% tariffs on China – 20% on EU
by kelipso on Thursday April 03, 2025 @12:03PM
(#43571690)
In the end, the problem is that China manufacturing output is $4.6 trillion according to those numbers while the US is $2.5 trillion, while it was around the same back in 2010. This, along with its decline in percentage of GDP is causing the perception, and it also is causing decline in employment in manufacturing. The perception matters ideologically and the employment issues matters materially, and so we have these tariffs as an effort to bring manufacturing back to the US.
Re:US Administration announces 34% tariffs on China – 20% on EU
by jgwil2 on Thursday April 03, 2025 @07:04PM
(#43576523)
Pretty big goalpost shift from "who believes these cooked up numbers" to "perception matters."
Re:US Administration announces 34% tariffs on China – 20% on EU
by kelipso on Friday April 04, 2025 @10:18AM
(#43582790)
The numbers are cooked up. See https://qz.com/1269172/the-epic-mistake-about-manufacturing-... from above.
Basically if you ignore computers, there was zero growth in manufacturing sector. If you take computers into account but ignore processing power increase, there was zero growth. So pretty much the only driving force in the manufacturing sector for the last 20 years was Intel, AMD, Nvidia. This is even with the increased productivity per person in manufacturing sector (so there was also massive reduction in employment).
It is highly concerning and the numbers were very much cooked up.
That it's relative share in GDP is down during that time means that other sectors were growing even faster (think Google, Netflix and so on, so services instead of things). That the service sector gains in relative importance is actually a sign of an advanced economy, every modern economy looks like that, not just the US.