1. Adjusting to China: A Challenge to the U.S. Manufacturing Sector
- Author:
- Martin Neil Baily
- Publication Date:
- 01-2011
- Content Type:
- Policy Brief
- Institution:
- The Brookings Institution
- Abstract:
- During an "exit interview" with the Wall Street Journal, departing National Economic Council Director Lawrence Summers argued that history would judge the United States based on how well we adjust to China's emergence as a great power, economically and politically. In the face of China's progress, America's manufacturing sector faces major challenges in becoming and remaining competitive and our choice of national economic policies will affect how well we meet those challenges. It is essential that the U.S. trade deficit not balloon as the economy recovers. There is scope to expand our exports in services and agriculture, but improving the competitiveness of U.S. manufacturing is vital.
- Topic:
- International Trade and Finance, Markets, and Bilateral Relations
- Political Geography:
- United States, China, and America