One indicator of this is the motor vehicle production data. In just the last five years, China has surged to #1 place, producing more than twice the automobiles, trucks and buses as the USA. And while India is seventh in the list, India would be ahead of the USA if two-wheelers were included (India now produces NINE million !!!! annually.
Monday, July 11, 2011
BRICs producing fewer bricks and more motors
Professor Madhav Badami of McGill University points out another shift in the global productivity, i.e., production of motorised vehicles. It used to be the case that the US and Europe for decades produced more automobiles than the rest of the world. This is no longer the case, as Professor Badami points out: