This is a Garbage Article by the same globalists usual suspects...
Here’s the reality...
Study after Study has shown that labor costs, while certainly lower in other places, do not remotely impact the end price of products as much as the globalists folks like to claim they do.
If you have a very, very labor intensive manufacturing process, then yes, labor costs are a large part of your end cost per item... however, very very very few things have huge human involvement in them anymore.... Most manufacturing is automated, and human involvement in the manufacturing process is very small per item produced.
When you factor in that US Worker productivity is among the best in the world, the cost of labor as part of your overall product is generally not that much different. Is it different? Is it a major difference in most indutstries and products, no.
Remember, this is the same crap that Obama and Hillary and their minions were telling you in 2008-2016, just get used to it those jobs aren’t coming back....
Yet we lost over 300k manufacturing jobs under OBama’s 8 years, and gained over 300k in just 2.5 years under Trump.
Don’t fall for this CRAP... We no longer live in a world where manufacturing is human involvement through the entire process... at least not in MOST industries.
Labor costs are an ever decreasing percentage of the cost of a product, no matter where they are manufactured or assembled... We are a far cry from the 1950s.
I am no fan of ObaMao, but I do recollect it was either the Clinton or Bush II administration which got China awarded with most favored nation status under the idiotic globalist theory that more trade would encourage them to be more peaceful.
Good points. So, what are the real reasons manufacturing has and is still declining in America?
Some mentioned:
Needed tort reform
Lack of skilled labor
One not mentioned, which Trump is working to improve, is burdensome regulation.
Another, IMO, is the above makes it difficult for small business to compete with large established conglomerates. This is where Trump needs to concentrate a lot of his effort.
Newer technologies means we don't really need as many mega factories. For just one small example, my 3d printer allows me to produce models and even parts for the ideas and prototypes I'm working on.
Small business and entrepreneurs need a level playing field in order to compete with mega-corps and government who write the laws in their favor. Same as Chinese mom and pop enterprises and others around the world.
A simple thing would be for governments to remove all tariffs for those involved in small business with annual gross incomes below a certain amount.
This alone would cause small business worldwide to flourish. They would in turn hire and train more workers to meet their needs. This is well within Trump's authority to implement. It's what I mean by using the methods available to him in a thoughtful manner.
OSHA, the EPA, and tort can be pretty good though.