Manufacturing in America is all about making stuff. We make stuff all the time and the more we make the better our economy is, the better our lifestyle is, the more jobs there are and the easier it is to find a job.
In this new economy we are making things smarter, smaller, stronger and cleaner. Two thirds of all the research and development money is spent by manufacturing companies.
Boston Consulting Group has recently published an article about the resurgence of manufacturing in America. Rising wages and currency rates, among other factors, have dramatically narrowed the gap between manufacturing costs in China and the United States, with the result that several US companies are now bringing manufacturing jobs home to America. In The US Manufacturing Renaissance: How Shifting Global Economics Are Creating an American Comeback, authors Harold L. Sirkin, Justin Rose, and Michael Zinser provide historical perspective on why the death of US manufacturing has often been predicted—but failed each time. And why the present will be no different.
The impact of the changing math of manufacturing will be felt the most in seven industry sectors that our analysis predicted would reach a tipping point in around five years, when the rising costs of producing in China will make it more economical to shift the manufacture of goods consumed in the U.S. to the U.S. These sectors are;
1) Computers and Electronics computers, wireless phones, and televisions
2) Appliances and Electrical Equipment. Small appliances such as fans, vacuum cleaners, and microwave ovens and big appliances like refrigerators, freezers, and dishwashers
3) Machinery. Leading Chinese exports in this broad category include air conditioners, heaters, pumping equipment, office machinery, power tools, optical products, photocopiers, and farm equipment.
4) Furniture
5) Fabricated Metals plumbing fixtures, hardware, hand tools, cutlery, and pots and pans
6) Plastics and Rubber tires, floor coverings, and bottles
7) Transportation Goods car and truck components, motorbikes, bicycles, and aircraft parts.
Our manufacturing sector will continue to change and adapt to the new world order. We will continue to be on the leading edge of innovation, productivity advances, automation and new products.
In this new economy we are making things smarter, smaller, stronger and cleaner. Two thirds of all the research and development money is spent by manufacturing companies.
Boston Consulting Group has recently published an article about the resurgence of manufacturing in America. Rising wages and currency rates, among other factors, have dramatically narrowed the gap between manufacturing costs in China and the United States, with the result that several US companies are now bringing manufacturing jobs home to America. In The US Manufacturing Renaissance: How Shifting Global Economics Are Creating an American Comeback, authors Harold L. Sirkin, Justin Rose, and Michael Zinser provide historical perspective on why the death of US manufacturing has often been predicted—but failed each time. And why the present will be no different.
The impact of the changing math of manufacturing will be felt the most in seven industry sectors that our analysis predicted would reach a tipping point in around five years, when the rising costs of producing in China will make it more economical to shift the manufacture of goods consumed in the U.S. to the U.S. These sectors are;
1) Computers and Electronics computers, wireless phones, and televisions
2) Appliances and Electrical Equipment. Small appliances such as fans, vacuum cleaners, and microwave ovens and big appliances like refrigerators, freezers, and dishwashers
3) Machinery. Leading Chinese exports in this broad category include air conditioners, heaters, pumping equipment, office machinery, power tools, optical products, photocopiers, and farm equipment.
4) Furniture
5) Fabricated Metals plumbing fixtures, hardware, hand tools, cutlery, and pots and pans
6) Plastics and Rubber tires, floor coverings, and bottles
7) Transportation Goods car and truck components, motorbikes, bicycles, and aircraft parts.
Our manufacturing sector will continue to change and adapt to the new world order. We will continue to be on the leading edge of innovation, productivity advances, automation and new products.
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