China will surpass the US as the world’s No. 1 manufacturer by next year, the Financial Times reports. China, which last year accounted for 13.2% of manufacturing, will soon account for 17%, just ahead of the US, which has been the planet's dominant manufacturer for more than a century. The change had been projected to occur in 2013, but the weakening US economy accelerated that timeline.
One expert welcomed the report: “This should be a wholesome development for the US, for it promises both political stability for the world’s largest country and continuing opportunities for the US to export to, and invest in, the world’s fastest-growing economy,” said the president of the National Association of Manufacturers.