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Power Shift: East and West

In: Industrial Shift: The Structure of the New World Economy

Author

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  • Joe Atikian

Abstract

Most countries including China are losing agricultural share in GDP, even as food production grows faster than population. The global manufacturing share has held steady over recent decades, but it has declined in Western countries and risen in Eastern countries. China is, of course, a large part of the story, but so too is Japan’s stagnation, Korea’s rise, and Europe’s drop in the ranks. The global pie has grown and so has the Eastern share, while the decline of Western manufacturing is greatly exaggerated. Tradable services constitute the current revolution in the global industrial shift.

Suggested Citation

  • Joe Atikian, 2013. "Power Shift: East and West," Palgrave Macmillan Books, in: Industrial Shift: The Structure of the New World Economy, chapter 5, pages 50-66, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-34031-3_5
    DOI: 10.1057/9781137340313_5
    as

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