Still a Manufacturing Competitor

Manufacturing in the United States isn't dead or even dying. It's moving upscale, following the biggest profits, and becoming more efficient, just like Henry Ford did when he created the assembly line to make the Model T. The U.S. by far remains the world's leading manufacturer by value of goods produced. It hit a record $1.6 trillion in 2007 — nearly double the $811 billion in 1987. For every $1 of value produced in China's factories, America generates $2.50.

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Despite some pretty alarming drops in manufacturing, we still are doing well, depending on how you look at it. We are producing more in areas in which we excel, while other industries are losing to foreign competitors. Its all about specialization. Good for some, not so good for others. That's the market for you.