The answer to that is yes. Our once great companies sent most of their manufacturing jobs overseas. Since our currency is no longer backed up by the gold standard we should enforce our currency with quality made-in-America products. That is the only solution I can come up with.
Why do you think China is doing better than America? Because they are becoming the manufacturing capital of the world, That used to be America.
America is now a consumer economy not a capital economy. We borrow more than we can replace.
Does America need to make it's own products again?
- Posted:
- 3+ months ago by Anonymous
- Topics:
- america, great, currency, job, again, product, backed, answer
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Responses (1)
Before that can happen the USA must find out why they went overseas in the first place, it can't be just put down to a lack of patriotism traded for immediate material gratification. My guesses are
1. Wall Streets demand for increasing profit growth forcing incresed productivity to be sort in low wage cost economies overseas.
2.The expectations of employees for an annual wage increase irrespective of profitability.
3 . Increasing tax burdens to fund welfare & defence.
4. Healthcare Insurance rates increasing faster than inflation burdening companies which cause older experienced personnel to be retired/laid off
5 Education in the competing economies has surpassed in the production of a high skilled, graduate & Phd workforce that work longer hours & for less (although living costs are rising in places like China).
Manufacturing is returning re Apple, productivity can be achieved re the Japanese car factories in the US, but care in choosing to make what your unique resoures give you the best advantage & not sitting on your laurels.
This list can go on but
sorry had to save & send before my mobiles battery went flat!
This list can go on but to answer your question, yes, to restore a balanced economy in order to address the US trade deficit & dept, especially as the service industries (the Banks!, Insurance & the finance sector in general) have proven to have been of little true benefit, if not a liability.
It is not just your well being at stake here, but the world economy, as China fully recognizes.