American Factories Are Making Stuff Again as CEOs Take Production Out of China

[marmar]

(Bloomberg) There has been a sense in financial circles that the fever among American executives to shorten supply lines and bring production back home would prove short-lived. As soon as the pandemic started to fade, so too would the fad, the thinking went.

And yet, two years in, not only is the trend still alive, it appears to be rapidly accelerating.

Rattled by the most recent wave of strict Covid lockdowns in China, the long-time manufacturing hub of choice for multinationals, CEOs have been highlighting plans to relocate production -- using the buzzwords onshoring, reshoring or nearshoring -- at a greater clip this year than they even did in the first six months of the pandemic, according to a review of earnings call and conference presentations transcribed by Bloomberg. (Compared to pre-pandemic periods, these references are up over 1,000%.) ..............(more)

https://www.bloomberg.com/news/articles/2022-07-05/us-factory-boom-heats-up-as-ceos-yank-production-out-of-china?srnd=premium

[Demsrule86]

1. Good, Globalism has been a disaster for Americans workers and one of the reasons Trump won w

was he promised to bring jobs home...he lied of course.

[VMA131Marine]

2. Great, but...

The unemployment rate is 3.6%. We are going to need more people to fill these jobs.

[doc03]

3. Labor unions warned about outsourcing jobs

to China for decades. Nobody heard that giant sucking sound but Ross Perot.

[Talitha]

4. Yep, I remember them singing on the TV ad "Look for the union label..."

[Me.]

5. Excellent News

all other benefits aside, Americans make better products

[vanlassie]

6. Relaxed EPA regulations should help.

[keithbvadu2]

7. Have the Trumps brought any manufacturing back for their goods?

Have the Trumps brought any manufacturing back for their goods?

How much of their total?

[keithbvadu2]

8. Donald was worried about China losing jobs

"Too many jobs in China lost," Trump tweeted... Such concern!

https://www.democraticunderground.com/10142058871

http://thehill.com/homenews/senate/387515-schumer-hits-trump-for-offering-aid-to-chinese-company-how-about-helping
---------------------------

Senate Republicans drop bid to block Trump from helping Chinese telecom giant ZTE

https://www.democraticunderground.com/10142115196

https://www.washingtonpost.com/business/economy/senate-republicans-cave-to-trump-on-deal-with-chinese-telecom-giant-zte/2018/07/20/28ae5820-8c3f-11e8-8aea-86e88ae760d8_story.html

[Hermit-The-Prog]

9. Should never have 'outsourced' to begin with ...

Jobs were moved overseas to put more money in pockets that were already overstuffed. Jobs are moving back because that money flow was disrupted. The ones who do the actual work will still need to work about 300 lifetimes to receive as much pay as the CEOs who simply shuffle shit around the globe.

17/ Republicans told us if we just cut the top tax rate on the morbidly rich from the 74% it was at in 1980 down to 27% it would “trickle down” benefits to everybody else as, they said, the “job creators” would be unleashed on our economy.
18/ Instead of a more general prosperity, we’ve now ended up with the greatest wealth and income inequality in the world, as over $50 trillion was transferred over 40 years from the bottom 90% to the top 1%, where it remains to this day.
19/ The middle class has gone from over 60% of us to fewer than half of us. It now takes 2 full-time wage earners to sustain the same lifestyle one could in 1980.

Dear Republicans: We Tried Your Way and It Does Not Work (a thread)

[keep_left]

10. Another instructive approach to seeing where the ill-gotten money has gone is...

...to look at the explosion in far-right "think" tanks that has occurred since the late '70s. Initially, these institutions were national or even international, because the startup costs were substantial and there was a risk that many of them wouldn't pay off. But during the rapacious Reagan years, it became clear that there was almost no way to lose, and the risk was so low that the "think" tanks started showing up everywhere. The institutions went from international to national, then they went to a regional or state-level focus, and finally even local "think" tanks were created.

Some of these state and local institutions are actually highly dependent on funding from the much wealthier national ones. There was a report that came out probably two decades ago called The Feeding Trough about what happened when the Bradley and Olin foundations (among others) began funding lower-level regional and state institutions. The report showed how this funding helped ram through the disastrous school voucher system in Wisconsin and also began turning the state into the dystopia it has become today.