Remade in the USA
Received wisdom dictates that, since the 1970s, North America
has been sourcing much of its manufacturing overseas, and ceding
its commodity base to low-cost developing countries; that
manufacturing capacity has been steadily relinquished to emerging
economies with low cost labor aplenty (such as China, India and
Brazil).
In the past decade alone, a mass exodus of business - which
involved whole industries strategically uprooting entire value
chains - resulted in the loss of five million manufacturing jobs in
theU.S.The alarmist business press headlines that have for some
time predicted the outright death of industry in theUnited States
of America would appear, on the surface, to be all too
accurate.
However, recent developments perhaps indicate that the two score
year status quo of decline and disintegration is far from
unassailable - and, in fact, thatNorth Americais undergoing a
period of industrial renaissance. In the past two years, for
instance, Intel Co...
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