Not sure about these figures

Larry Elliott tells us that:

Germany runs a hefty trade surplus despite its high wages and expensive welfare state, while the United States has retained a big manufacturing sector despite the increasing financialisation of the economy.

Well, OK….from what I can find the US manufacturing sector is around 12% of GDP. The UK manufacturing sector is around 12% of GDP isn\’t it?

So while it\’s large, yes, the US manufacturing sector is so simply because the US economy is large.

Leave a Reply

Your email address will not be published. Required fields are marked *