China now accounts for roughly 28 per cent of all manufacturing produced worldwide, a share that has more than tripled since 2004. China's manufacturing value-added reached $4.66 trillion, representing 28 per cent of the global total, more than the next three largest manufacturing economies combined: the United States, Japan and Germany.
Over the same two decades, the United States has slipped from producing about a fifth of global manufacturing output to around 17 per cent. The gap between the two economies has widened sharply, leaving China as the world's dominant industrial power by a wide margin, even as Washington insists it is closing the distance.
