"Deindustrialization is not unique to the U.S.Economists at Alliance Capital Management estimate 31 million lost manufacturing jobs worldwide between 1995-2002Due to the contraction of China's State Owned Enterprises (SOE's), it is estimated to have lost as many as 25 million [Chinese] jobs in that span, almost ten times that of the U.S. and more than 20% of their total manufacturing employment.The primary reason for recent manufacturing losses is sluggish global demand, particularly the advanced economies of Japan and Western Europe."