"The pathway out is going to be through finding some rock-hard intelligent tough political leadership who understands what is said here and explains it to the American people."
So I guess we're screwed. If I know anything at all, I know that that's not going to happen.
This is a fine article, Robert. I copied it to send to my kids. As I was working my way through it, I would come across statements that really hit home. Your points on Chinese industry are excellent.
One of my oldest friends owns an electro-mechanical stamping company. He is a driven perfectionist who is still hands on in the tool room. Recently he returned from a trip to mainland China. I never saw him defeated before, but he told me that despite what we are told, the chinese factories had the latest, greatest and best equipment he had ever seen and that their engineers were both superb and plentiful.
He came to realize that he was doomed. By reason of his personal ability and the excellence of his staff, he could continue to match or slightly exceed the quality of their products, but given that they had no equivelent overhead, they could and would simply slash their prices until he was out of business. My friend is tough-minded and will continue to compete as long as he draws breath, but his business is living on borrowed time.
He used to be a staunch republican.
For all the gravity of this article, you still manage to get me chuckling over your one-line zingers.
"...they possess a remarkable knack for being undisturbed about the fact that the rest of us must go on living in this country after they are done messing around with it."
Ouch!
---------------------------------
That's a problem. Their personnel costs are what they say they are, and their prices are what they say they are. The artificialities of the rate of exchange don't correct the situation. Cincinatti tool, who made rugged mills for many decades is now importing machinery from China to be resold here. If you go to an older facility you see magnificent machinery with names such as Dean, Grace, Lodge, Cincinatti, LeBlond, Pratt and Whitney, Palmgren and so forth on it. Most of those companies are now probably no longer in business. The last time I looked, Van Norman had moved to Scandanavia and I don't know if they still produce much. A Van Norman #12 from the '20s or '30s is one of the most useful machines I ever worked with.