Factories first: why China is determined to shield manufacturing from decline

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Beijing has pledged to prevent industrial hollowing-out by safeguarding the share of manufacturing in its economy, noting that the trend has historically proven difficult to reverse in an official outline of priorities for the next five years.As nations industrialise, the share of manufacturing in their economies typically peaks before declining. If left unchecked, the trend could lead to deindustrialisation, undermining economic strength and resilience, according to a book released last week...