China’s manufacturing labor force is now 7 times larger than that of the U.S.

Manufacturing Workforce (2002-2012) - Image by CNLib

Manufacturing Workforce (2002-2012) – animated Gif Image by CNLib

¨and some economists suggest that China’s manufacturing workforce may be 20 million workers larger than the official total.¨ (1)

Jim Willie: ¨(…) in 1999 the Clinton Admin granted Most Favored Nation status to China that took many observers off guard. With it came the immediate promise of significant direct foreign investment. On the one side, the low cost solution was pitched to the American public. It seemed like a much bigger systemically large NAFTA destructive grenade. Nobody discussed the down side, not of the certain risk. The USEconomy would most assuredly lose legitimate wealth engines, and become hopelessly dependent upon both asset bubbles and debt to a much greater extent.¨ (2)

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