• Merkel accuses US of running trade surplus if trade calculations are updated
    2 replies, posted
Modern western nations are moving towards commerce/service-based economies, rather than manufactoring-based. Most physical goods are produced in China nowadays, so most of the nations GDP comes from trading and distribution of goods through a complex supply-chain rather than simply the production of goods. https://keydifferences.com/difference-between-industry-and-commerce.html Business is an economic activity, concerned with the provision of goods and services with an aim of earning a profit. There is two major classification of business activities, i.e. industry and commerce. The industry is all about the production of goods, whereas commerce focuses on their distribution of goods and services. Manufacturing only makes up about 12% of the USA's GDP, while finance, insurance and real estate makes up 20% and the remainder is split between retail, wholesale and healthcare/social assistance. https://www.statista.com/statistics/248004/percentage-added-to-the-us-gdp-by-industry/
Don't you try to confuse Trump with facts and figures, his gut says our economy should be entirely oil, heavy industry and manufacturing, none of this liberal hippy coding and service stuff! there are some chemical production that should be returned to the US for national security reasons, and because the chinese stuff is garbage, like pharmaceutical precursors
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