Reflections on the turn of Reindustrialization in

Reflections on the turnaround of American Reindustrialization

experts discussed the Reindustrialization strategy recently proposed by US President Barack Obama at the new American economic strategy seminar held in Suzhou recently

the so-called Reindustrialization means that economic development should shift to a sustainable growth mode, that is, export driven growth and manufacturing growth, return to the real economy, and pay more attention to the development of domestic industries, especially manufacturing

reviewing the development process of American industrial economy, manufacturing industry was once regarded as a sunset industry. Due to resource and environmental problems, traditional industries fall out of favor with investors; Today, the United States is realizing deindustrialization, which transferred a large number of industrial production links overseas in the past, to Reindustrialization, which is of concern

it should be noted that the current Reindustrialization strategy proposed by the United States is a realistic consideration. Although the proportion of manufacturing industry in the U.S. economy is only about 15%, due to the huge economic aggregate, the share of U.S. manufacturing industry in the world is still as high as about 20%, and the fact that the world's largest manufacturing country cannot be avoided. Now, the United States is trying to reinvigorate its local industry through Reindustrialization. On the one hand, it is to prevent the manufacturing industry from shrinking and losing its position as the world's innovation leader. On the other hand, it is to resolve the pressure of high costs through industrial upgrading and find high-end industries that can support future economic growth, rather than just restoring the traditional manufacturing industry. From this point of view, the Reindustrialization strategy of the United States is to rely on Reindustrialization to promote the turning and recovery of the real economy again in the process of accelerating the upgrading of traditional industries and scientific and technological progress

the thinking caused by the Reindustrialization strategy of the United States is profound. For the current Chinese economy, it is equally crucial to rely on industrial investment to promote a sustained and stable economic recovery. Manufacturing is the driving force for China's rapid growth. China is in the middle and late stage of industrialization. China's manufacturing industry has created one third of the total GDP and contributed 90% of the total exports. In the next 10 to 20 years, it will still be the foundation of China's economy

every 10% growth of China's manufacturing industry can drive the global economic growth by 1 percentage point. For more than 20 years, the growth rate of China's manufacturing industry ranks first in the world. In 2007, the added value of China's manufacturing GDP reached 1.3 trillion in US dollars, and its proportion in the global manufacturing industry increased from 3% to 13.2%, becoming the second largest manufacturing country in the world. GlobalInsight, a Washington Economic Consultancy, recently predicted that China's share of global manufacturing exports will reach 17% in 2009, while the United States will decline from 20% in 2007 to 16% in 2009. China will overtake the United States to become the world's largest manufacturing center in 2009, four years ahead of schedule

it is unavoidable that the comparative advantage of made in China will still promote the rapid development of China's manufacturing industry. However, some macro factors that affect the overall competitiveness of China's manufacturing industry should not be ignored. Kuznets theory shows that the maximization of output value (rapid economic growth) is the normal development process in a specific period of industrial development. In contrast, China's manufacturing labor productivity is relatively low, about 4.38% of the United States, 4.37% of Japan and 5.56% of Germany. There is still a gap between China's manufacturing industry and developed countries in terms of quality. From the perspective of the contribution coefficient of intermediate input, the intermediate input of one unit value in developed countries can roughly get one unit or more of newly created value, while China can only get 0.56 units of newly created value. From the perspective of the overall profit return rate of the industry, the manufacturing industry in the United States and Japan is an industry with extremely high profit margin. In recent years, although the proportion of American manufacturing has decreased, its output value still accounts for 16% of GDP. Manufacturing products account for 72% of all U.S. exports. In contrast, in recent years, the profit margin and return on capital of China's manufacturing industry have decreased year by year. Since October, 2008, the area of domestic manufacturing research institutes has reached 20000 square meters, and the profit growth rate has fallen compared with the same period in 2007. Enterprise profits have load displacement, load time, displacement time, stress strain load ⑵ the decline of the point extension chart shows that the profitability of enterprises is weakened, the production and operation situation tends to be severe, and the capacity expansion has an inflection point

as China's manufacturing industry is still in the middle and lower reaches of the world's manufacturing industry chain, most of the products exported by China are three low-tech products with low technology content, low unit price and low added value, and a large number of imported products are three high-tech products with high technology content, high added value and high price. The price and terms of trade of foreign trade in the manufacturing sector showed an obvious deterioration trend, reflecting that the exchange capacity of China's unit export commodities was weakening, and the trade income and trade added value obtained by the unit export commodities were declining

at present, 80% of China's economy is the real economy, and traditional industries account for a considerable proportion. There is huge room for improvement and innovation. In order to realize the dream and goal of the transformation from made in China to created in China, we must use modern technology to transform and upgrade traditional industries, use technological progress to solve the problem that traditional industries can continuously monitor their EEG activities, guide more investment, promote the adjustment and upgrading of traditional industries, promote the renewal and innovation of industrial technology, and speed up the in-depth adjustment of industrial structure, From product innovation and industrial innovation, determine the favorable position of made in China in the new round of international competition, so as to walk out of the old road of advanced industry and low-end links in the past development of manufacturing industry