By 2006, China could have overtaken Germany as the world's third largest manufacturing country by value, according to a report compiled by brokerage BNP Paribas Peregrine. China, in fourth place in 2000, is already the number one producer of many types of product but the output value of its manufacturing industry is still relatively low in dollar terms, placing it behind the US, Japan and Germany. However, the report estimated that industrial output would grow by 10% annually over the next four years, moving the country up a place in the world rankings.
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