This is probably an unpopular opinion: it pains me to see the manufacturing industry decline in the US. I don't really mind paying $300 for a pair of shoes. Yes, it will be expensive, but then I'll just buy fewer pairs. In return, more people get decent jobs, or so I hope. And no, I'm not talking about just the so-called "low-end" manufacturing, but also the high end. Indeed, how can we even grow "high-end" talent if we don't have a place for them to start their career? The average age of workers in the remaining few ship manufacturers is well over 50. The cost of producing things in the US is just way more expensive than in China, even if we factor out labor cost. When covid started, both GE and BYD set up factories to produce masks. GE's assembly lines are semi automatic, if not manual, and their machines looked archaic. In contrast, BYD's assembly line was fully automated and shiny.
I mean, can a country as large as the US be really competitive without manufacturing? I just can't see how services and virtual stuff like FB alone can be essential.
I mean, can a country as large as the US be really competitive without manufacturing? I just can't see how services and virtual stuff like FB alone can be essential.