3 Key Lessons For Global Industry From China's 2025 Strategy

President Xi Jinping's "Made in China 2025" strategy, unveiled in 2015 and now thrust back into the limelight by President Trump's bellicose stance on trade, holds three important lesson for global industry. This should be a non-controversial statement, but it is not. Economists often mock "the manufacturing fetish" and argue there is no reason to consider manufacturing a better driver of economic growth than any other sector. As economies get richer, they tend to shift from agriculture to industry, and then to services. Manufacturing accounted for nearly 30% of the U.S. economy in the 1950s; it was still 20% in the 1980s; today it accounts for just 11%.