I work in an automotive plastics factory and I second what you say. Yes, we make some of the plastic components for your car, BUT, all of the American-made machines that we use are aging and the companies that made them no longer exist (Van Dorn, Newbury). They are being replaced by Japanese machines. All of our robots are also Japanese. And don't even get me started on the chip fiasco!
Consumer goods are low value (relatively speaking) and can't bear the costs of highly compensated US factory workers + US regulatory burdens & taxes...
Then why is almost EVERYTHING in the stores made overseas? Clothing, appliances, you name it.
I work in an automotive plastics factory and I second what you say. Yes, we make some of the plastic components for your car, BUT, all of the American-made machines that we use are aging and the companies that made them no longer exist (Van Dorn, Newbury). They are being replaced by Japanese machines. All of our robots are also Japanese. And don't even get me started on the chip fiasco!
Take heart; Intel is spending $20B on chip capacity in Columbus, OH
🎯???
Consumer goods are low value (relatively speaking) and can't bear the costs of highly compensated US factory workers + US regulatory burdens & taxes...
Yes, I’m aware that this is why USA businesses moved overseas. The financial incentives need to be reversed.
Ricardo's concept of comparative advantage isn't subject to reversing...