Global Insight, the US economic forecasting agency, said recently that US manufacturing continued to weaken and China's manufacturing industry continued to grow. By 2016 or 2017, China's manufacturing industry will surpass the United States and become the world's largest manufacturing country. At present, US manufacturing products account for two-thirds of total exports, and US-made products account for 20% of the world's total manufactured products. In July of this year, the US manufacturing purchasing managers' index rose to 48.9, exceeding 44.8 in June, but below 50, indicating that it is still shrinking. In the same period, the China Manufacturing Purchasing Managers Index rose to 52.8, exceeding June. The 51.8 is the highest level since July 2008.
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