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Chinese industry overtakes Japan as world's No.2
By Zuo Likun (chinadaily.com.cn)
Updated: 2010-03-05 16:27
China overtook Japan as the world's second-largest producer of manufacturing output, trailing behind only the United States, says a report released in Vienna on Wednesday by the United Nations Industrial Development Organization (UNIDO).
According to UNIDO estimates, China produced 15.6 percent of the world's total manufacturing value added (MVA) in 2009, compared with 15.4 percent for Japan, while the US clinched its first rank with 19 percent.
These three countries combined produce half of the world's manufacturing output, said the report.
Despite the lead of China in absolute amount of production, the report says Japan remains the world's most industrialized country in terms of MVA per capita. Japan's MVA per capita for 2008 was almost $9,000 compared with about $700 in China.
The report also suggests that the effect of the recent financial crisis on industrial growth was severe for industrialized countries, but relatively mild for developing countries. Of the top 10 countries in manufacturing production, two more are from the developing world, India and Brazil, ranking 9th and 10th respectively.
Chinese industry overtakes Japan as world's No.2
By Zuo Likun (chinadaily.com.cn)
Updated: 2010-03-05 16:27
China overtook Japan as the world's second-largest producer of manufacturing output, trailing behind only the United States, says a report released in Vienna on Wednesday by the United Nations Industrial Development Organization (UNIDO).
According to UNIDO estimates, China produced 15.6 percent of the world's total manufacturing value added (MVA) in 2009, compared with 15.4 percent for Japan, while the US clinched its first rank with 19 percent.
These three countries combined produce half of the world's manufacturing output, said the report.
Despite the lead of China in absolute amount of production, the report says Japan remains the world's most industrialized country in terms of MVA per capita. Japan's MVA per capita for 2008 was almost $9,000 compared with about $700 in China.
The report also suggests that the effect of the recent financial crisis on industrial growth was severe for industrialized countries, but relatively mild for developing countries. Of the top 10 countries in manufacturing production, two more are from the developing world, India and Brazil, ranking 9th and 10th respectively.
Chinese industry overtakes Japan as world's No.2
