This is PHENOMENAL! Bring those jobs home, baby!
Those jobs left the country as high paying union labor, they will return as low paying, no benefit, shit jobs.
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Unions will have to win back concessions nationwide then.
Lord knows our politicians never will.
Factory construction spending booms post pandemic
Companies got an abrupt lesson in how badly just in time supply chains can go when there’s so many potential failure points. A lot of them are finally learning that supply chains need to be shortened. Plus tensions have only continued to build with the China-Taiwan situation so there’s reason to question long term dependence on manufacturing from either area.
None of Biden’s policies would explain a quadrupling of manufacturing construction spending, and we would expect to see similar changes no matter who is in office.
China is no longer the low wage industrial powerhouse that it was. Their demographics are terrible sue to the one child policy and it is only going to get worse. This was always going to happen this decade.
Covid was just the catalyst. China overplayed their hand with “Wolf Warrior” diplomacy during the pandemic and they kept their country locked down for far too long. Their refusal to admit their vaccine was a failure after bashing the West’s vaccines meant many were going to die.
Europe’s demographics (especially Germany) are bad. Their reliance on Russian Petroleum and gas is going to kill their industry.
If we in the US want stuff then we must build out our industrial plant. While our demographics are better than most advanced economies we still don’t have enough people to make stuff at the low end of the wage scale. That is where Mexico and S. E. Asia come in and bring value to our manufacturing.
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