10 Industries the US No Longer Rules

We're No. 2! We're No. 2!
By Ashley Allen,  Newser User
Posted Feb 3, 2011 10:18 AM CST
Promoted on Newser Feb 3, 2011 2:17 PM CST
File photo of a worker at a Volvo plant in Virginia.   (AP)

(User Submitted) – When it comes to business, Americans have long been used to being on top—but oh, how the mighty have fallen in some arenas. 24/7 Wall Street breaks down the top 10 industries in which "Made in the USA" doesn't dominate as it once did:

  • Autos—High labor costs and falling market share have put mighty Detroit behind Japan, the home to Toyota, Honda, Nissan, and Mazda.
  • Coal—China now pulls about three times more of the black stuff out of the ground than we do.

  • Beer—The US hit its pinnacle in 2000. From 2000 to 2009, however, China roughly doubled its production to take the No. 1 spot.
  • Lettuce—Again, the US is No. 2, with China producing about three times as much roughage.
  • High-tech exports—China produced approximately $381 billion worth of high-technology exports in 2008, while the US produced $231 billion. Between 2005 and 2008, China's output increased by 78%. America's increased by only 21%.
Read the full article.

My Take on This Story