Transformation of the manufacturing industry and economic development

Author: Yin Xingzhen
Editor-in-Chief: Liu Zixin
Publisher:
Publish Date: 1999-05-01
Features: Manufacturing is one of the most traditional industries in a country. Under the impact of numerous emerging industries, how manufacturing itself can reform and develop, and how its role in the national economic system changes, are concerns for enterprises, governments, and the academic community. Based on empirical analysis and detailed data, this book discusses the adjustment of China's manufacturing internal structure from 1978 to 1998 from unique perspectives, including "The Trajectory of Upgrading the Internal Structure of Manufacturing," "The Patterns of Internal Capital Flow and Financing Policies in Manufacturing," "Urban Manufacturing Structure Adjustment and Development," and "Large Market and Manufacturing Development" in eight chapters.
Excerpt: Albert W. Moore) declared in 1996 that about a decade ago, Wall Street analysts almost unanimously sounded the death knell for American manufacturing. Academic authorities and economists concocted the theory of the national economic life cycle, claiming that the U.S. economy had passed its mature stage and was now on the brink of collapse. However, their prophecy did not come true. Instead, the U.S. economy gradually improved and achieved continuous growth over eight years. During this period, although there were temporary stagnations, the U.S. economy still maintained its momentum, primarily due to the resilient efforts of manufacturing. Today, American manufacturing continues to support the growth of the U.S. gross domestic product and personal income, once again becoming a vibrant industry.