Is U.S. manufacturing on the brink of a comeback?
U.S. manufacturing is currently facing its best chance for "staging a comeback." So says Braden Kelley in The Atlantic.
Kelley cited several reasons why U.S. manufacturing is becoming more competitive, including: a rise in overseas wages, higher transoceanic shipping costs, and an overall frustration with offshoring.
Kelley also rightly notes:
“US companies that commit to engaging American workers in their innovation efforts may also increase their ability to justify manufacturing their products at home…It is possible for companies to manufacture their products in the United States and make a profit. When you invest in your workers, engage their hearts and minds and involve them in the innovation process, you can not only optimize your manufacturing processes but also uncover new growth opportunities that no contract manufacturer will ever bring to you.”
This morning we wrote about a Pew Research poll that found 41 percent of respondents consider China the world’s leading economic power. Hopefully, though, that number may eventually shift back toward the U.S. if manufacturing makes a comeback.
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