12 Industries Where China Is Leading
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For many decades, the USA has been the world’s largest economy with an annual GDP of 20 billion dollars or greater.
However, in recent years, China managed to get close to these figures and even threatens to surpass them in the near future.
In this video, we’ll go over 12 industries where China is leading and discover how they managed to rise to the top.
Number 1. Aluminum (01:48)
In recent years, the Chinese aluminum industry is in rapid development. In fact, China’s share in the global production of this metal rose from 40.9% in 2010 to a record high of 57.2% in 2020.
Number 2. Steel (02:55)
When we talk about steel production, no country comes close to China. In fact, with over 80 million tons of steel a month, China’s share in the global steel market is well over 50%.
Number 3. Auto Industry (03:54)
Once again, China might not be the first country that crosses your mind when you think about automobiles. However, in the last decade, China has managed to overcome the automotive industry giants Germany and Japan, and climb its way to the top.
Today, this country produces over 21 million units a year, which is more than the next four countries combined.
Number 4. Farming (05:02)
With 1.4 billion citizens, China is the most populated country in the world. So, it isn’t that surprising to find out it has more than a well-developed farming industry.
Number 5. E-Commerce (06:09)
With companies such as Amazon and eBay, the USA may seem like the obvious pick for the largest e-commerce industry. However, this title belongs to China with an estimated 672 billion dollars in online sales each year.
Number 6. Textile (07:16)
More than 50% of textile output comes exactly from this country.
Moreover, China is the biggest exporter of apparel with an export value that reached 54 billion dollars in 2020.
Number 7. Tobacco (08:38)
China National Tobacco Corporation (CNTC) is a state-owned manufacturer of tobacco products that enjoys an absolute monopoly in this country. And considering China accounts for roughly 40% of the world’s total cigarette consumption, CNTC has a perfect market position.
Number 8. Toys (09:43)
For several decades, China has been dominating the toy industry with a global market share of around 80%. In other words, four out of five toys on the world market are made in this country.
Number 9. Consumer Electronics (10:44)
From smartphones and laptops to headphones and other gadgets, there’s nothing Chinese manufacturers can’t produce.
Number 10. Beer (11:43)
Combined, all Chinese beer companies produce around 50 million tons of this golden liquid a year. Compare that to 22 million tons the USA makes and you can see how superior China actually is in this industry.
Number 11. Coal (12:42)
As we’ve mentioned, China is also the leading coal producer, and with a considerable margin. Namely, with 4 billion tons of coal a year, it accounts for over 50% of coal production worldwide.
Number 12. Meat (13:38)
Over the last few decades, the Chinese meat industry expanded so drastically that it’s now the biggest one in the world. In fact, this country produced more than 77.5 million metric tons of meat in 2020, which puts it into a comfortable lead over the USA.
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