This is a pretty darn good report from Harold Sirkin at Business Week . A key paragraph:
As Stephen Manning of the Associated Press acknowledged in a rare “just the facts” story in mid-February, the U.S. “by far remains the world’s leading manufacturer,” producing goods valued at a record $1.6 trillion in 2007 — nearly double the $811 billion produced a decade earlier. Indeed, the AP writer noted, “For every $1 of value produced in China’s factories [in 2007], America generated $2.50.” Not bad for a country that doesn’t produce anything anymore.
The facts contradict those who insist that freer trade condemns high-wage countries, such as the United States, to suffer net losses of highly productive enterprises. (More such facts on manufacturing in the U.S. can be found here .)
(HT Walter Peterson)