U.S. media determined based on the "U.S. Manufacturing Reshoring Index" that by 2025, more than 84% of U.S. companies will repatriate part or all of their manufacturing operations. I personally think that with the general election approaching, the current president of the United States is once again using the performance of the previous president to criticize him. What did the former US president do to bring back manufacturing?
After the former US president came to power, he was committed to revitalizing the US manufacturing industry. He proposed a series of policies and plans. Focusing on promoting the reshoring of manufacturing, adjustments will be made in trade, taxation, supervision and other aspects, hoping to bring competitive industries back to the United States.
He has adopted various means to protect local producers, such as imposing tariffs on imported goods from China, negotiating the U.S.-Mexico-Canada North American Free Trade Agreement, and withdrawing from the Trans-Pacific Partnership. Such actions help make U.S. manufacturing more attractive and allow local companies to no longer outsource production solely because of cost advantages.
He has hit China’s pain points, such as banning Huawei from purchasing chips and banning Huawei from using the Android system, which caused Huawei’s market share to drop sharply after briefly ranking first in the world. Huabing allowed chip foundry companies such as TSMC to build factories in the United States, allowing all chip foundry companies in the world to be in the hands of the United States. The ban on the export of advanced photolithography machines to China has caused China's chip design development to stop at 3 nanometers. Punishing Chinese universities prevents China’s high-end manufacturing talents from studying abroad and returning normally.
He proposed reducing corporate tax burdens, easing various obstacles in the operation and production process, and making it easier for companies to obtain financial support. This not only allows American companies to return manufacturing to the country, but also attracts some Chinese companies to build factories in the United States. He proposed that government procurement should be prioritized in the United States, which in turn prompted the production of some products to form a complete supply chain in the United States. The so-called reshoring of manufacturing has limitations
The so-called reshoring of manufacturing in the United States is actually a big pie in itself, with great industry limitations. In the U.S. manufacturing industry, some high-tech or high value-added industries are relatively easy to return, such as aviation, automobiles, chips, computers and other industries. These industries are characterized by technology-intensiveness, strong innovation capabilities, and high demand for capital, talent, technology, etc.
In some labor-intensive industries, such as light industry and textile industry, they face greater difficulties. This is because the production costs of labor-intensive industries rely too much on cheap labor. If they want to return, costs will rise significantly, making it difficult to maintain local competitiveness. In addition, issues such as supply chain and facility construction need to be considered, as well as the risks and delays that may be introduced by traveling long distances.
The reason why voters support the reshoring of manufacturing is that they hope to obtain jobs. However, the so-called reshoring of manufacturing in the United States actually creates jobs that have nothing to do with most Americans with average academic levels. The current president uses the performance of the former president to judge the pie
The current president of the United States has done almost nothing to repatriate the manufacturing industry. The actions he has taken are almost without any originality. He just rests on the performance of the previous president. His "US$1.9 trillion economic stimulus plan" was actually due to the emergence of deflation and had to put funds into the market. Because of deflation, the number of jobs in the United States has not only not increased, but has decreased due to business difficulties.
The measures he proposed to "increase the corporate tax rate and strengthen the crackdown on counterfeit and shoddy goods" claim to be to protect local manufacturing, but in fact it is just a slogan. Under the normal operation of the US legal system, these tasks have to be carried out. However, the tax increase has made many companies building factories in the United States complain that they have been cheated.
So, at this time, the US media is saying that the reshoring of manufacturing has achieved results and praising the performance of the current US president, but it is actually the performance of the former president. For the sake of votes, it is a bit funny to use the performance of the predecessor to criticize the former president and continue to compete in the upcoming election.
English version: "Over 80% of US manufacturing will return in three years?" The achievement of the former president is now being boasted about by the current president.
According to the "US Manufacturing Reshoring Index," U.S. media is convinced that over 84% of American companies will partially or fully reshore their manufacturing operations by 2025. Personally, I think that with the presidential election approaching, the current U.S. president is boasting about the achievements of the former president again.What did the former U.S. president do for the reshoring of manufacturing?
After taking office, the former U.S. president was committed to revitalizing American manufacturing and proposed a series of policies and plans. He made adjustments in trade, taxation, regulation and other areas aimed at promoting reshoring of manufacturing, hoping to bring competitive industries back to the United States.
He took various measures to protect domestic producers, such as imposing tariffs on Chinese imports, negotiating the USMCA free trade agreement between the United States, Mexico, and Canada, and withdrawing from the Trans-Pacific Partnership. These actions helped to make American manufacturing more attractive and led domestic companies to no longer only consider cost advantages when outsourcing production.
He hit the pain points of China, such as prohibiting Huawei from purchasing chips and using the Android system, which caused Huawei's market share to decline rapidly
after briefly ranking first in the world. He invited TSMC and other chip foundries to build factories in the United States and brought all chip foundries in the world under America's control. He prevented advanced lithography machines from being exported to China, causing China's chip design to stagnate at 3 nm. He punished Chinese universities, making it difficult for top-notch talent in China's high-end manufacturing industry to study abroad and return home normally.
He proposed reducing corporate tax burdens, eliminating various obstacles in the operation and production process, and making it easier for businesses to obtain financial support. This not only allowed American companies to reshore manufacturing domestically, but also attracted some Chinese companies to build factories in the United States. He proposed government procurement with "Buy American" priority, which promoted the formation of a complete supply chain for some products in the United States. The so-called reshoring of manufacturing has limitations.
The so-called reshoring of manufacturing in the United States is actually a big pie with significant industry limitations. In the US manufacturing sector, some industries with high technology content or high added value are comparatively easy to reshore, such as aviation, automotive, semiconductor, computer and other industries. These industries have characteristics such as technology intensity, strong innovation ability, and large demand for capit
al, talent, technology, etc.
However, in some labor-intensive industries, such as light industry, textiles, they face greater difficulties. This is because the production cost of labor-intensive industries is too dependent on cheap labor. If they want to reshore, the cost will significantly increase, which will be difficult to maintain local competitiveness. In addition, supply chain, facility construction and other issues need to be considered, as well as risks and delays that may be introduced by long-distance transportation.
The reason why voters support reshoring of manufacturing is to obtain job opportunities, but the jobs created through the so-called reshoring of manufacturing in the United States actually have nothing to do with most average-educated Americans. The current president is using the achievements of the former president to boast.
The current President of the United States has done almost nothing to bring back manufacturing, and his actions have been largely uncreative , relying on the achievements of the former president. His $1.9 trillion economic stimulus plan was simply a response to deflationary pressures that required market intervention. However, due to deflation, employment in the United States not only did not increase but actually decreased due to ongoing difficulties in business operations.
His proposal to "raise corporate tax rates and strengthen measures to combat counterfeit goods" is purportedly designed to protect domes
tic manufacturing, but is actually just a slogan. These are works that should have been carried out under normal legal procedures in the United States. However, the practice of raising taxes has left many enterprises that intended to build factories in America feeling deceived.< /p>
Therefore, when the American media praises the effectiveness of bringing back manufacturing, they are essentially singing the praises of the achievements of the former president, not the current one. Claiming credit for the achievements of the previous administration in order to win votes and compete in the upcoming election is somewhat ridiculous.