Role of Manufacturing Sector in the Forthcoming National Industrial Transformations

Abstract

At the present time, various ambitious nations laid out their plans for maintaining or acquiring their leadership in the world by emphasizing innovations and by focusing on the manufacturing sector. To understand this phenomenon theoretically, this paper addresses the importance of the manufacturing sector in the overall development of a nation's economic strength. By employing systems thinking and such a logical reasoning that is commonly used in mathematics and natural science, this paper establishes three formal propositions on related issues and provides policy recommendations and open problems for future research.