Innovation, rather than labor costs, may spur re-shoring
Writing for Foreign Policy magazine last week, Vivek Wadhwa suggested that the real future of manufacturing is in the United States, rather than China.
While Wadhwa acknowledges that many CEOs have decided to re-shore their company’s jobs, he does not believe the increased cost of Chinese labor, nor the rising Yuan, are the factors accelerating this process.
The real threat to China comes from technology. Technical advances will soon lead to the same hollowing out of China's manufacturing industry that they have to U.S industry over the past two decades.
Wadhwa goes on to mention the technologies he believes to be leading the race: robotics, artificial intelligence, and 3-D printing, among others.
All of these advances play well into America's ability to innovate, demolish old industries, and continually reinvent itself. The Chinese are still busy copying technologies we built over the past few decades. They haven't cracked the nut on how to innovate yet.
Read more here.
Related recent Blogs
- Some Made in America gift ideas for the obnoxious teenager in your life • by LDonia • 12/04/2013
- A bad time to sideline trade talks • by mmcmullan • 12/04/2013
- Infrastructure investment means job creation • by TGarland • 12/04/2013
- December 4, 2013: Familiar trade deficit doldrums • by mmcmullan • 12/04/2013
- China trade deficit on pace for new record, but will anyone notice? Alliance for American Manufacturing (AAM) Statement. • by scapozzola • 12/04/2013
- What to do with abandoned factories? Bring in the artists! • by LDonia • 12/03/2013
- Surprise, surprise? Americans still say job creation should be top priority • by mmcmullan • 12/03/2013
- December 3, 2013: One number shows a #MFG uptick. Does that mean more #MFG jobs? • by mmcmullan • 12/03/2013
- Fmr. Transportaion Secretary Ray LaHood urges infrastructure investment • by TGarland • 12/02/2013
- The Computer Wore Heels: Check out "Top Secret Rosies" • by mmcmullan • 12/02/2013