first of all, there's no point in having all kinds of low-added-value industry in high-income places as long as there are millions of people willing and able to do it all in the same place close to a port.
second, US industry suffers from two major problems. protective tariffs keeping productivity low, and the 'exorbitant privilege' of the USD being reserve currency of the world, which counterintuitively hurts export of every non-finance sector
first of all, there's no point in having all kinds of low-added-value industry in high-income places as long as there are millions of people willing and able to do it all in the same place close to a port.
second, US industry suffers from two major problems. protective tariffs keeping productivity low, and the 'exorbitant privilege' of the USD being reserve currency of the world, which counterintuitively hurts export of every non-finance sector