The United States has fallen behind China and numerous other countries in its global share of key industrial sectors, according to several experts in technology and industrial policy.
U.S. global shares in high-value industries have fallen so dramatically that the nation now ranks just above Italy and behind Mexico in a list of key advanced industries, said experts at an April 27 industrial strategy conference hosted by the Information Technology and Innovation Foundation (ITIF) think tank.
“We’re below the global average…,” said ITIF founder Robert Atkinson. “We’re moving in the wrong direction.”
“We’re almost a developing nation.”
The industries measured in the so-called “Hamilton Index” include pharmaceuticals, electrical equipment, machinery, motor vehicles, computer equipment, and other key sectors that play an outweighted role in determining the nation’s competitive advantage….