BUNK.
Bring back American manufacturing.
Total BS - “goods and services” is not the same as “manufactured goods”. Yes, the shipping and sales might happen here - but no wealth is produced in those steps.
I sell manufacturing equipment for a living - this is pure propaganda.
No one wants to manufacture in the US if they can avoid it. The idiots in DC have made it much too risky.
They can print money - but they can’t print wealth.
Funny how American manufacturing declined while China’s increased. Do you think there is a connection?
Why can't we buy vitamins made in America?
Several years ago, a Chinese researcher took a sabbatical in the lab where I did my graduate research. For Christmas every year, we would draw names from a hat in order to play Secret Santa.
I drew the Chinese researcher’s name.
I thought it would be nice to get him something strictly American, to remind him of the time he spent working in our lab. I shopped and shopped. Everything was “Made in China.”
I finally settled on buying an item with an American theme and pulling off the “Made in China” sticker before wrapping it. I felt terrible, but what else could I do?
Outside of the firm, Scott is an Adjunct Scholar with the Cato Institute, where he writes on international economic policy and politics. He also is a Senior Visiting Lecturer at Duke University Law School and a Visiting Lecturer at Duke University, where he teaches courses on international trade law and international trade policy, respectively. -
Gee, this guy sounds like an objective, disinterested observer--not. I am so sick of these guys. Stop pissing on my leg and telling me it is raining.
Most of the things I buy are made in China. Nowadays, anything made in the United States has a small American flag on it to alert customers. When was the last time anyone has seen clothing made in the United States, unless you get on the internet and search it out?
There's nothing surprising or informative about that. It's long been known that the cost of producing sneakers in Asia is just below or above about $10.00 per pair. And the huge mark-ups to $50.00 to $200.00 or more per pair cover very high marketing expense paid to athletes and sports teams that use particular brands, and to profit.
What the above actually supports is that only a few Americans benefit from profits made from many of the industries largely relocated from the US to cheap labor nations.
Counting the expenses and profits realized on imported goods in the US as the US portion of income from imports is total BS. You could up with similar ratios for goods produced in the US and then distributed to the final sales point. - We have the hundreds of billions in trade deficits valued at fairly low productions costs of imports, but the deficits still total hundreds of billions which is indicative of how many millions of manufacturing jobs have been relocated from the US.
And these productivity stats are mostly likely from the same old bogus productivity stats calculated on manufacturing still done in the US, and then compared to previous eras when the more labor intensive, and lower productivity industries were still in the US and part of prior years productivity calculations. Much of it is not real productivity gains, but merely shedding the more labor intensive and lower productivity manufacturing from the calculation.
This 'study' looks like a bunch of contorted BS designed to yield the desired conclusion
Where does this writer account for the $1 trillion spent annually on means tested government poverty programs, going largely to welfare recipients and the unemployed and marginally employed? That's the real "benefits" of shedding millions of manufacturing jobs and being left with an economy which has no jobs for millions of people.
The China threat to American industry consists in the extraordinarily high American tax on business and the ever proliferating and already onerous regulation of American industry all of which is rapidly pricing American industry out of the market or out of the USA.
A Krugman grad?