Thursday, December 13, 2012

Chart of the day: China is now world’s No. 1 manufacturer

The fact that China has surpassed the US in manufacturing output should not be a surprise.  The fact that Americans believe consumption--even if it means going into debt--in lieu of productive capacity, is the path to prosperity is mind-boggling.  It's a result of consumer behavior being indoctrinated into our citizens psyche by our learning institutions.  Debts don't matter, as long as you keep whipping out that credit card, right?

No comments:

Post a Comment