This must be a joke. UK used to be an economic superpower and post devaluation it is just a debt ridden nation with a falling standard of living. It's actually been on a worse track than USA. The only power left in UK is the City of London, which is technically not U.K territory.
Low dollar is good for exports but we have nothing to export. We sent all our manufacturing and engineering overseas. Nice move.
Apple outsources their circuit designs. So does HP. TI's chips aren't fabricated in the US. Take a look at the crap inside of those.
.................................................................... "Made in USA' is very very rare to see on products that are in everyday use, personal or business. But how would you know, you do not even live in this country. [/B][/QUOTE] Very true.....Walk into any retail box.... Where is it made ? In US 999/1000 items....no.... ............................................................ Keen mentions $7 Trilion leaving $14 Trillion US in terms of demand.... And there seems to be the idea that China makes the trinkets....and the US makes the real stuff.... And the majority of retail = trinkets.... .............................................................. Underlying key.....the "securitization....no skin in the game....debt model".... Debt is the key.... The US has to put debt in check.... ............................................................. Also money where it matters most.... ie Entrepreneurship is the estuary of US Commerce.... This sector has to be nurtured....
http://www.businessweek.com/magazine/content/05_12/b3925601.htm To answer the question in the article. Yes we already have gone too far. We shipped all our designs over to foreign countries to save a buck. People would justify it, "well if I don't do it they'll just replace me with someone who will." Now look what happens. Where I went to school, student enrollment in engineering is way down. Science and engineering just isn't glorified enough to want to go into it. Now days it's business, marketing, communications, and managing other people. No value-added components for the long term. You certainly don't hear this anymore: <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/oorv3FDOUPY&hl=en_US&fs=1&"></param><param name="allowFullScreen" value="true"></param><param name="allowscriptaccess" value="always"></param><embed src="http://www.youtube.com/v/oorv3FDOUPY&hl=en_US&fs=1&" type="application/x-shockwave-flash" allowscriptaccess="always" allowfullscreen="true" width="425" height="344"></embed></object>
"Let's bring back manufacturing jobs".... "Let's reindustiralize the USA"... TOTAL CROCK OF SHIT POLITICO SPEW.... It's not possible to "reindustrialize the USA by weakening the $USD".... the wage differential between US and low labor cost countries is too great.... unless, of course, you don't mind BANKRUPTING NEARLY ALL US CITIZENS...
China only accounts for ~11% of global manufacturing output. Also, the US industrial base is as alive and kicking as it was 15 years ago:
CORRECTAMUNDO! What's never mentioned is the "labor cost component" of manufactured goods. In the US, it's high... $20/hr or more? In China it's what, $1/hour? Industrial output is generally measured by "final cost of produced goods"... but if it were measured in "units of output", China might have already surpassed us. A BIG factor in "American output" is in military weapons. I'm sure they include a "higher than average" labor cost component. Of course, we're not outsourcing our cruise missles and smart bombs to foreign countries. Any truly truthful and critical assessment of our manufacturing status would likely reveal that we are much behind the "official" stats as spewed by government...