Part 5/13:
China's dominance in global markets stems from its highly competitive manufacturing sector. Chinese workers are incredibly productive—certain studies reveal that, in physical output industries, Chinese labor produces two to three times more than American counterparts while earning about 80% less. This productivity advantage has helped China capture about 20% of worldwide manufacturing exports, compared to less than 5% in 2001, and now accounts for roughly 35% of global manufacturing output—quadruple its share at China's WTO accession in 2001.