Q2. Why did manufacturing decline in advance economies?
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Answer:
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Explanation:
UK manufacturing 'suffocating' as output slips to seven-year low ... Output and new orders shrank as factories came under pressure from the high level of uncertainty over Britain's future trading relationship with the EU and from the US-China trade war, which has caused a sharp slowdown in international trade.
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Answer:
Manufacturing employment has seen major shifts over the past several decades. The share of manufacturing in aggregate employment has been steadily declining for over four decades in advanced economies , with most countries experiencing outright declines in the number of manufacturing jobs since the 1990s. In most developing economies, the share of manufacturing jobs has levelled off at relatively low levels as labour has shifted from agriculture to services, largely bypassing the manufacturing sector. The main exceptions have been China, Indonesia, Malaysia, and Thailand, where the share of manufacturing jobs in overall employment is higher than in the 1970s.
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