China's industrial sector shows signs of cooling down in May. The Purchasing Managers' Index (PMI) for manufacturing dropped to 49.5 from 50.4 in April, according to data from the National Bureau of Statistics and the China Federation of Logistics & Purchasing (CFLP). Economists surveyed by the Wall Street Journal had anticipated the PMI to remain at 50.4. A PMI above 50 signals growth, while a reading below indicates contraction.
74 sats \ 5 replies \ @Coinsreporter 31 May
US and other can make false merriment on this slight slowing down in Chinese manufacturing sector. China is still manufacturing at a speed.
China is at the top with 28.7% of the total global output for manufacturing while US is 2nd with 16.6%. huge difference! Isn't it?
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51 sats \ 3 replies \ @Undisciplined 31 May
Entire countries are odd units of comparison, though, when talking about total output.
China has 4x the population of the US, which means the average American's manufacturing output is more than double the average Chinese's.
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74 sats \ 2 replies \ @Coinsreporter 31 May
You're right but Chinese people only work or manufacture (output) for China, so the average won't matter.
If US has to catch up with Chinese manufacturing output, it has to double its population or double the manufacturing output.
Population is an asset to any country, China definitely has more of this asset.
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31 sats \ 1 reply \ @Undisciplined 31 May
I guess that’s a matter of perspective.
I don’t care about collectivist aggregates. I care about individual flourishing.
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21 sats \ 0 replies \ @Coinsreporter 31 May
I surrender!
Actually, I also believe in the same ideology.
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11 sats \ 0 replies \ @TomK OP 31 May
Interesting numbers. Thanks
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