China will take over the role as the world's largest manufacturer from the US by 2020, but the US's position in the global league table of manufacturers will remain surprisingly strong, according to Global Insight, a Washington-based economics consultancy.

Its forecast that the US will keep its share of global manufacturing output above 20 per cent, at least until 2024, goes against the widespread feeling, at least in the US, that the country is losing ground rapidly.