Why Germany And China Are Largely Unaffected In This Recession
Could manufacturing resolve America's economic woes?
As the economic downturn continues across the world, two nations have come out unscathed: China and Germany. Harold Meyerson of the Washington Post reasons that its their robust manufacturing sector and predominantly industrial economies that have helped them to not only survive the recession but also thrive in it. In contrast, he says, America's transition from a manufacturing to a post-industrial economy has resulted in its most productive jobs being offshored and wages getting stagnated since the manufacturing sector began to contract.