SlideShare uma empresa Scribd logo
1 de 25
Baixar para ler offline
WHAT FUTURE FOR U.S. JOBS AND MANUFACTURING?



   REVIVING U.S. MANUFACTURING
         A Presentation to the Board And Staff of
            Interfaith Worker Justice
             MONDAY, DECEMBER 10, 2012



                Robert E. Scott
  Director of Trade and Manufacturing Policy Research
                 Economic Policy Institute
Why is manufacturing important?

• Source of high wage/good benefit jobs for workers without
  college degrees.
• Cannot close the trade deficit without exporting more
  manufactured goods.
• Best way to bring economic recovery – we need sustained
  demand, no bubble.
• One job in manufacturing supports 2-3 additional jobs, eg,
  networks of suppliers, R&D, process engineering, etc; the loss of
  manufacturing means the additional loss of other high end,
  highly skilled jobs.
• Manufacturing is essential to technological innovation.
Why is manufacturing important?




Manufacturing is essential
 for a healthy economy
      with good jobs
Manufacturing Trends



What have been the trends in U.S.
        manufacturing?
U.S. manufacturing employment,
       Jan 1970-Oct. 2012
The Trend in U.S. Manufacturing

• 1970 – 1998: High manufacturing productivity
  growth was offset by rapidly growing demand for
  domestic manufactured, so manufacturing
  employment was roughly stable.
• 1998 – 2010: 6.1 million manufacturing jobs lost.
• Productivity growth caused only a small share of
  the manufacturing jobs lost since 1998.
• Most of the lost jobs were due to the huge rise in
  the U.S. trade deficit in manufactured goods.
Jobs and the Trade Deficit with China
What happened to manufacturing


 There has been a big decline in the
      growth of value added in
manufactured goods produced in the
US, either for domestic consumption
or export, largely due to a rise in the
    value of imports, harming the
       economy and workers.
The Decline in Manufacturing


Is the decline in manufacturing
the inevitable result of
productivity gains and/or
globalization … so there’s nothing
we can do about it?
               •   NO
The Decline in Manufacturing




What caused the decline in manufacturing?
The Decline in Manufacturing


The decline in manufacturing is largely due to
policy choices – today we discuss the two most
important ones.

1.Unfair trade practices
2.Lack of support for the manufacturing sector
Unfair Trade Practices: 1

Currency manipulation
• Approximately 20 countries are significant
  currency manipulators including China,
  Taiwan, Malaysia, Saudi Arabia and
  Switzerland
• Eliminating currency manipulation could
  create 2.2 million to 4.7 million U.S. jobs over
  next two to three years.
Unfair Trade Practices: 2

Subsidies / dumping
•China has poured tens of billions of dollars over the past
decade into:
   • Steel
   • Paper
   • Auto Parts
   • Solar panels
   • Glass
•China’s Steel capacity has increased ten-fold in a decade
   • China and many other countries found guilty in
     dumping cases (sales below cost) in many products
Unfair Trade Practices

There is a conflict of interest between Wall
Street (financial institutions, large retailers,
and ? multinational manufacturers?) and Main
Street.

Our policies support and our politicians are
siding with Wall Street, not our Main Street
manufacturers, but this is not in the best
interests of the people of the US.
Unfair Trade Practices

Our trade problems and loss of manufacturing are largely
driven by “Wall Street” corporations (multinational
manufacturers and financial firms) that benefit from other
countries’ unfair trade practices which allow them to
produce cheaply abroad. The Citizens United decision
enhanced the power of MNCs and Wall street firms.
Our trade/manufacturing problem is a political, not
economic, problem.
It is not an inevitable outcome of globalization or
productivity increases in manufacturing.
Lack of Support for Manufacturing



Other countries with strong manufacturing
sectors provide support for manufacturers that
we fail to do.

The U.S. could and should support
manufacturing. We’ll discuss specifics in
upcoming slides.
What can be done to address unfair trade
   practices and provide support for
            manufacturing?
What Can Be Done re: Unfair Trade Practices

• Eliminate global currency manipulation. Outlaw
  purchases of U.S. government securities by
  countries that won’t sell their own. This is legal
  under the WTO principle of reciprocity.
• End subsidies. The most egregious are illegal
  under WTO. We need an independent
  government agency to initiate fair trade cases.
• Trading system reform. Revise U.S. general
  administrative trade law.
What Can Be Done re: Support for Manufacturing

• Increase spending on training and community college
  programs
• Increase government R&D (nondefense)
• Greater access to capital for manufacturing firms
• Manufacturing extension service
• Invest in new industries, make commitments to new
  products (government purchases)
• Invest in infrastructure: in short term, creates jobs and
  increases demand for manufactured goods; in longer
  term, boosts private sector productivity
Manufacturing in the U.S.


The U.S. can have, and needs to have, a
strong manufacturing sector.

It is a question of power, politics, and
internal U.S. policies that can and must
be changed.
Additional Resource


Harold Meyerson, “The Politics of Industrial
Renaissance,” American Prospect December
2009
U.S. manufacturing: Growth in real value added
      and labor productivity, 1990-2011
U.S. manufacturing: Goods trade deficit,
              1989-2011
U.S. manufacturing: Real value added,
             1989-2011
Trade and Manufacturing Employment

Mais conteúdo relacionado

Mais procurados

Us trade sanctions: US China Trade War
Us trade sanctions: US China Trade WarUs trade sanctions: US China Trade War
Us trade sanctions: US China Trade WarShubhada Gala
 
US- China trade war
US- China trade warUS- China trade war
US- China trade warsubanitha S
 
May 2019 Update on Trade War with China
May 2019 Update on Trade War with ChinaMay 2019 Update on Trade War with China
May 2019 Update on Trade War with ChinaTrade Risk Guaranty
 
Trade Wars are the New Battleground - March 2018
Trade Wars are the New Battleground  -  March 2018Trade Wars are the New Battleground  -  March 2018
Trade Wars are the New Battleground - March 2018paul young cpa, cga
 
The impact of globalization on international business
The impact of globalization on international businessThe impact of globalization on international business
The impact of globalization on international businesssooriya karunanithi
 
Introducton to international business
Introducton to international businessIntroducton to international business
Introducton to international businessVishal Gupta
 
Trade War - An Overview
Trade War - An OverviewTrade War - An Overview
Trade War - An Overviewijtsrd
 
Us china trade war
Us china trade warUs china trade war
Us china trade warMilind Hali
 
Understanding the US-China Trade Relationship
Understanding the US-China Trade Relationship Understanding the US-China Trade Relationship
Understanding the US-China Trade Relationship Peachy Essay
 
Global factors influencing business
Global factors influencing businessGlobal factors influencing business
Global factors influencing businessmattbentley34
 
Trade war between us vs china
Trade war between us vs chinaTrade war between us vs china
Trade war between us vs chinaNilam Patel
 
The Most Challenging economy in Decades
The Most Challenging economy in Decades The Most Challenging economy in Decades
The Most Challenging economy in Decades Qamar Farooq
 
TCI 2014 The Reindustrialization of North America
TCI 2014 The Reindustrialization of North America TCI 2014 The Reindustrialization of North America
TCI 2014 The Reindustrialization of North America TCI Network
 
When will china us trade war stop
When will china us trade war stopWhen will china us trade war stop
When will china us trade war stopM S Siddiqui
 
Globalization and Structural Shifts in the Developed World – from Industriali...
Globalization and Structural Shifts in the Developed World – from Industriali...Globalization and Structural Shifts in the Developed World – from Industriali...
Globalization and Structural Shifts in the Developed World – from Industriali...Economic Policy Dialogue
 
Global factors that are shaping UK business activity assignment 2 task 2
Global factors that are shaping UK business activity assignment 2 task 2Global factors that are shaping UK business activity assignment 2 task 2
Global factors that are shaping UK business activity assignment 2 task 2John Brian Lee
 
Globalization by Islam El-Shafie
Globalization by Islam El-ShafieGlobalization by Islam El-Shafie
Globalization by Islam El-ShafieIslam El-Shafie
 
INTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESSINTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESSMAYA 3ON
 

Mais procurados (20)

Us trade sanctions: US China Trade War
Us trade sanctions: US China Trade WarUs trade sanctions: US China Trade War
Us trade sanctions: US China Trade War
 
US- China trade war
US- China trade warUS- China trade war
US- China trade war
 
May 2019 Update on Trade War with China
May 2019 Update on Trade War with ChinaMay 2019 Update on Trade War with China
May 2019 Update on Trade War with China
 
Trade Wars are the New Battleground - March 2018
Trade Wars are the New Battleground  -  March 2018Trade Wars are the New Battleground  -  March 2018
Trade Wars are the New Battleground - March 2018
 
The impact of globalization on international business
The impact of globalization on international businessThe impact of globalization on international business
The impact of globalization on international business
 
Introducton to international business
Introducton to international businessIntroducton to international business
Introducton to international business
 
Bba vi (ib) (gu)
Bba   vi (ib) (gu)Bba   vi (ib) (gu)
Bba vi (ib) (gu)
 
Trade War - An Overview
Trade War - An OverviewTrade War - An Overview
Trade War - An Overview
 
Us china trade war
Us china trade warUs china trade war
Us china trade war
 
Understanding the US-China Trade Relationship
Understanding the US-China Trade Relationship Understanding the US-China Trade Relationship
Understanding the US-China Trade Relationship
 
Global factors influencing business
Global factors influencing businessGlobal factors influencing business
Global factors influencing business
 
Trade war between us vs china
Trade war between us vs chinaTrade war between us vs china
Trade war between us vs china
 
The Most Challenging economy in Decades
The Most Challenging economy in Decades The Most Challenging economy in Decades
The Most Challenging economy in Decades
 
Us china trade war
Us china trade warUs china trade war
Us china trade war
 
TCI 2014 The Reindustrialization of North America
TCI 2014 The Reindustrialization of North America TCI 2014 The Reindustrialization of North America
TCI 2014 The Reindustrialization of North America
 
When will china us trade war stop
When will china us trade war stopWhen will china us trade war stop
When will china us trade war stop
 
Globalization and Structural Shifts in the Developed World – from Industriali...
Globalization and Structural Shifts in the Developed World – from Industriali...Globalization and Structural Shifts in the Developed World – from Industriali...
Globalization and Structural Shifts in the Developed World – from Industriali...
 
Global factors that are shaping UK business activity assignment 2 task 2
Global factors that are shaping UK business activity assignment 2 task 2Global factors that are shaping UK business activity assignment 2 task 2
Global factors that are shaping UK business activity assignment 2 task 2
 
Globalization by Islam El-Shafie
Globalization by Islam El-ShafieGlobalization by Islam El-Shafie
Globalization by Islam El-Shafie
 
INTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESSINTRODUCTION TO BUSINESS
INTRODUCTION TO BUSINESS
 

Destaque

Why Turnarounds Fail - Best Practices
Why Turnarounds Fail - Best PracticesWhy Turnarounds Fail - Best Practices
Why Turnarounds Fail - Best PracticesDavid Mathews
 
Leading Effective Business Turnarounds
Leading Effective Business TurnaroundsLeading Effective Business Turnarounds
Leading Effective Business Turnaroundssalheureux
 
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...Best Practices/Techniques Operational Turnarounds and Financial Restructuring...
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...jfdavidson
 
Productivity improvements using Operations Management in Manufacturing industry
Productivity improvements using Operations Management in Manufacturing industry Productivity improvements using Operations Management in Manufacturing industry
Productivity improvements using Operations Management in Manufacturing industry Jagmeet Singh Bajaj
 
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...Turnaround Management Society
 
Making Turnarounds Work !
Making Turnarounds Work !Making Turnarounds Work !
Making Turnarounds Work !Erik Van Rompay
 
Manufacturing & operations management
Manufacturing & operations managementManufacturing & operations management
Manufacturing & operations managementVaibhav Govindjiwala
 
Project BBX - Turnaround Plan for Blackberry (Summer 2012)
Project BBX - Turnaround Plan for Blackberry (Summer 2012)Project BBX - Turnaround Plan for Blackberry (Summer 2012)
Project BBX - Turnaround Plan for Blackberry (Summer 2012)Robin Chan
 
NCompass Live: Presenting Data in Meaningful and Interesting Ways
NCompass Live: Presenting Data in Meaningful and Interesting WaysNCompass Live: Presenting Data in Meaningful and Interesting Ways
NCompass Live: Presenting Data in Meaningful and Interesting WaysNebraska Library Commission
 
Benchmarking & Best Practices - Increasing Productivity & Warehouse Efficiency
Benchmarking & Best Practices - Increasing Productivity & Warehouse EfficiencyBenchmarking & Best Practices - Increasing Productivity & Warehouse Efficiency
Benchmarking & Best Practices - Increasing Productivity & Warehouse EfficiencyMichael Mikitka, CAE
 
9 business-turn around-strategies
9 business-turn around-strategies9 business-turn around-strategies
9 business-turn around-strategiesGogo Erekosima
 
Cellular Manufacturing (Flexible Operations)
Cellular Manufacturing (Flexible Operations)Cellular Manufacturing (Flexible Operations)
Cellular Manufacturing (Flexible Operations)Jorge Ros
 
Motivation and productivity increasing productivity
Motivation and productivity   increasing productivityMotivation and productivity   increasing productivity
Motivation and productivity increasing productivityansari1200
 
OEE - The Critical KPI to Drive Manufacturing Productivity
OEE - The Critical KPI to Drive Manufacturing ProductivityOEE - The Critical KPI to Drive Manufacturing Productivity
OEE - The Critical KPI to Drive Manufacturing ProductivityParsec_Automation_Corp
 
Slideshare Presentation English
Slideshare Presentation EnglishSlideshare Presentation English
Slideshare Presentation Englishcatt05
 

Destaque (20)

Why Turnarounds Fail - Best Practices
Why Turnarounds Fail - Best PracticesWhy Turnarounds Fail - Best Practices
Why Turnarounds Fail - Best Practices
 
Leading Effective Business Turnarounds
Leading Effective Business TurnaroundsLeading Effective Business Turnarounds
Leading Effective Business Turnarounds
 
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...Best Practices/Techniques Operational Turnarounds and Financial Restructuring...
Best Practices/Techniques Operational Turnarounds and Financial Restructuring...
 
Productivity improvements using Operations Management in Manufacturing industry
Productivity improvements using Operations Management in Manufacturing industry Productivity improvements using Operations Management in Manufacturing industry
Productivity improvements using Operations Management in Manufacturing industry
 
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...
International Turnaround Management Standard Version 1.5 ONLY PREVIEW first 1...
 
Making Turnarounds Work !
Making Turnarounds Work !Making Turnarounds Work !
Making Turnarounds Work !
 
3 myths about presenting data
3 myths about presenting data3 myths about presenting data
3 myths about presenting data
 
Manufacturing & operations management
Manufacturing & operations managementManufacturing & operations management
Manufacturing & operations management
 
Project BBX - Turnaround Plan for Blackberry (Summer 2012)
Project BBX - Turnaround Plan for Blackberry (Summer 2012)Project BBX - Turnaround Plan for Blackberry (Summer 2012)
Project BBX - Turnaround Plan for Blackberry (Summer 2012)
 
NCompass Live: Presenting Data in Meaningful and Interesting Ways
NCompass Live: Presenting Data in Meaningful and Interesting WaysNCompass Live: Presenting Data in Meaningful and Interesting Ways
NCompass Live: Presenting Data in Meaningful and Interesting Ways
 
Benchmarking & Best Practices - Increasing Productivity & Warehouse Efficiency
Benchmarking & Best Practices - Increasing Productivity & Warehouse EfficiencyBenchmarking & Best Practices - Increasing Productivity & Warehouse Efficiency
Benchmarking & Best Practices - Increasing Productivity & Warehouse Efficiency
 
9 business-turn around-strategies
9 business-turn around-strategies9 business-turn around-strategies
9 business-turn around-strategies
 
Turnaround Management
Turnaround ManagementTurnaround Management
Turnaround Management
 
Cellular Manufacturing (Flexible Operations)
Cellular Manufacturing (Flexible Operations)Cellular Manufacturing (Flexible Operations)
Cellular Manufacturing (Flexible Operations)
 
Turnaround Strategy
Turnaround Strategy Turnaround Strategy
Turnaround Strategy
 
Business Turnaround Strategy
Business Turnaround StrategyBusiness Turnaround Strategy
Business Turnaround Strategy
 
Turnaround Strategies
Turnaround StrategiesTurnaround Strategies
Turnaround Strategies
 
Motivation and productivity increasing productivity
Motivation and productivity   increasing productivityMotivation and productivity   increasing productivity
Motivation and productivity increasing productivity
 
OEE - The Critical KPI to Drive Manufacturing Productivity
OEE - The Critical KPI to Drive Manufacturing ProductivityOEE - The Critical KPI to Drive Manufacturing Productivity
OEE - The Critical KPI to Drive Manufacturing Productivity
 
Slideshare Presentation English
Slideshare Presentation EnglishSlideshare Presentation English
Slideshare Presentation English
 

Semelhante a Reviving U.S. Manufacturing

Demystifying trade war
Demystifying trade warDemystifying trade war
Demystifying trade warripudaman
 
LESSON-1-IBAT-globalization and 5 emergence
LESSON-1-IBAT-globalization and 5 emergenceLESSON-1-IBAT-globalization and 5 emergence
LESSON-1-IBAT-globalization and 5 emergenceAngelMeneses15
 
Raising Manufacturing From The Dead
Raising Manufacturing From The DeadRaising Manufacturing From The Dead
Raising Manufacturing From The Deadguestc57d14bc
 
The Impact Of U.S. Economy On The Housing Crisis
The Impact Of U.S. Economy On The Housing CrisisThe Impact Of U.S. Economy On The Housing Crisis
The Impact Of U.S. Economy On The Housing CrisisAngie Logan
 
Afton Chemical & Scott Miller: The Renaissance in U.S. Manufacturing
Afton Chemical & Scott Miller: The Renaissance in U.S. ManufacturingAfton Chemical & Scott Miller: The Renaissance in U.S. Manufacturing
Afton Chemical & Scott Miller: The Renaissance in U.S. ManufacturingAfton Chemical
 
The Trans Pacific Partnership ( Tpp ) And Michael Froman...
The Trans Pacific Partnership ( Tpp ) And Michael Froman...The Trans Pacific Partnership ( Tpp ) And Michael Froman...
The Trans Pacific Partnership ( Tpp ) And Michael Froman...Dawn Mora
 
The Future of U.S. Manufacturing: A Change Manifesto
The Future of U.S. Manufacturing: A Change ManifestoThe Future of U.S. Manufacturing: A Change Manifesto
The Future of U.S. Manufacturing: A Change ManifestoCognizant
 
Trade policies in developing Countries
Trade policies in developing CountriesTrade policies in developing Countries
Trade policies in developing CountriesVaibhav verma
 
Power Point Presenation for the subejct of International Business
Power Point Presenation for the subejct of International Business Power Point Presenation for the subejct of International Business
Power Point Presenation for the subejct of International Business Syed Valiullah Bakhtiyari
 
The United States Turns Inward
The United States Turns InwardThe United States Turns Inward
The United States Turns InwardHKUST IEMS
 
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...Goh Bang Rui
 
Introduction to international business - Manu Melwin Joy
Introduction to international business - Manu Melwin JoyIntroduction to international business - Manu Melwin Joy
Introduction to international business - Manu Melwin Joymanumelwin
 

Semelhante a Reviving U.S. Manufacturing (20)

Essay About Oil Industry
Essay About Oil IndustryEssay About Oil Industry
Essay About Oil Industry
 
Demystifying trade war
Demystifying trade warDemystifying trade war
Demystifying trade war
 
LESSON-1-IBAT-globalization and 5 emergence
LESSON-1-IBAT-globalization and 5 emergenceLESSON-1-IBAT-globalization and 5 emergence
LESSON-1-IBAT-globalization and 5 emergence
 
Raising Manufacturing From The Dead
Raising Manufacturing From The DeadRaising Manufacturing From The Dead
Raising Manufacturing From The Dead
 
Legal outsourcing
Legal outsourcingLegal outsourcing
Legal outsourcing
 
The Impact Of U.S. Economy On The Housing Crisis
The Impact Of U.S. Economy On The Housing CrisisThe Impact Of U.S. Economy On The Housing Crisis
The Impact Of U.S. Economy On The Housing Crisis
 
Afton Chemical & Scott Miller: The Renaissance in U.S. Manufacturing
Afton Chemical & Scott Miller: The Renaissance in U.S. ManufacturingAfton Chemical & Scott Miller: The Renaissance in U.S. Manufacturing
Afton Chemical & Scott Miller: The Renaissance in U.S. Manufacturing
 
Unit 1.pptx
Unit 1.pptxUnit 1.pptx
Unit 1.pptx
 
The Trans Pacific Partnership ( Tpp ) And Michael Froman...
The Trans Pacific Partnership ( Tpp ) And Michael Froman...The Trans Pacific Partnership ( Tpp ) And Michael Froman...
The Trans Pacific Partnership ( Tpp ) And Michael Froman...
 
The Future of U.S. Manufacturing: A Change Manifesto
The Future of U.S. Manufacturing: A Change ManifestoThe Future of U.S. Manufacturing: A Change Manifesto
The Future of U.S. Manufacturing: A Change Manifesto
 
A Nation on the Edge
A Nation on the EdgeA Nation on the Edge
A Nation on the Edge
 
Trade policies in developing Countries
Trade policies in developing CountriesTrade policies in developing Countries
Trade policies in developing Countries
 
Power Point Presenation for the subejct of International Business
Power Point Presenation for the subejct of International Business Power Point Presenation for the subejct of International Business
Power Point Presenation for the subejct of International Business
 
Chapter 2 slides
Chapter 2 slidesChapter 2 slides
Chapter 2 slides
 
Retail Industry Essay Examples
Retail Industry Essay ExamplesRetail Industry Essay Examples
Retail Industry Essay Examples
 
environmental context
environmental contextenvironmental context
environmental context
 
The United States Turns Inward
The United States Turns InwardThe United States Turns Inward
The United States Turns Inward
 
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...
Social Studies Chapter 9 How do We Respond to Tensions Arising from some Econ...
 
Introduction to international business - Manu Melwin Joy
Introduction to international business - Manu Melwin JoyIntroduction to international business - Manu Melwin Joy
Introduction to international business - Manu Melwin Joy
 
Globlization
GloblizationGloblization
Globlization
 

Mais de EconomicPolicyInstitute

Mais de EconomicPolicyInstitute (8)

The State of U.S. Manufacturing
The State of U.S. ManufacturingThe State of U.S. Manufacturing
The State of U.S. Manufacturing
 
The U.S. economic outlook: The Great Recession and anemic recovery
The U.S. economic outlook:The Great Recession and anemic recoveryThe U.S. economic outlook:The Great Recession and anemic recovery
The U.S. economic outlook: The Great Recession and anemic recovery
 
Transporting Black Men to Good Jobs
Transporting Black Men to Good JobsTransporting Black Men to Good Jobs
Transporting Black Men to Good Jobs
 
The State of Working America, 12th Edition
The State of Working America, 12th EditionThe State of Working America, 12th Edition
The State of Working America, 12th Edition
 
2012 04 11 lives of foxconn workers revised
2012 04 11 lives of foxconn workers revised2012 04 11 lives of foxconn workers revised
2012 04 11 lives of foxconn workers revised
 
Staff and alumni of EPI
Staff and alumni of EPIStaff and alumni of EPI
Staff and alumni of EPI
 
Ows test
Ows testOws test
Ows test
 
The need for paid sick days
The need for paid sick daysThe need for paid sick days
The need for paid sick days
 

Último

BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...Nguyen Thanh Tu Collection
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...Nguyen Thanh Tu Collection
 
3.12.24 Freedom Summer in Mississippi.pptx
3.12.24 Freedom Summer in Mississippi.pptx3.12.24 Freedom Summer in Mississippi.pptx
3.12.24 Freedom Summer in Mississippi.pptxmary850239
 
Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024bsellato
 
Pharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfPharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfSumit Tiwari
 
Alamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxAlamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxDhatriParmar
 
Research Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchResearch Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchRushdi Shams
 
Riti theory by Vamana Indian poetics.pptx
Riti theory by Vamana Indian poetics.pptxRiti theory by Vamana Indian poetics.pptx
Riti theory by Vamana Indian poetics.pptxDhatriParmar
 
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...Marlene Maheu
 
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...Subham Panja
 
Material Remains as Source of Ancient Indian History & Culture.ppt
Material Remains as Source of Ancient Indian History & Culture.pptMaterial Remains as Source of Ancient Indian History & Culture.ppt
Material Remains as Source of Ancient Indian History & Culture.pptBanaras Hindu University
 
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptx
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptxBBA 205 BE UNIT 2 economic systems prof dr kanchan.pptx
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptxProf. Kanchan Kumari
 
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17Celine George
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...Nguyen Thanh Tu Collection
 
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...AKSHAYMAGAR17
 
LEAD6001 - Introduction to Advanced Stud
LEAD6001 - Introduction to Advanced StudLEAD6001 - Introduction to Advanced Stud
LEAD6001 - Introduction to Advanced StudDr. Bruce A. Johnson
 
3.12.24 The Social Construction of Gender.pptx
3.12.24 The Social Construction of Gender.pptx3.12.24 The Social Construction of Gender.pptx
3.12.24 The Social Construction of Gender.pptxmary850239
 
The First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfThe First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfdogden2
 
Dhavni Theory by Anandvardhana Indian Poetics
Dhavni Theory by Anandvardhana Indian PoeticsDhavni Theory by Anandvardhana Indian Poetics
Dhavni Theory by Anandvardhana Indian PoeticsDhatriParmar
 
AI Uses and Misuses: Academic and Workplace Applications
AI Uses and Misuses: Academic and Workplace ApplicationsAI Uses and Misuses: Academic and Workplace Applications
AI Uses and Misuses: Academic and Workplace ApplicationsStella Lee
 

Último (20)

BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (FRIE...
 
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
BÀI TẬP BỔ TRỢ TIẾNG ANH 11 THEO ĐƠN VỊ BÀI HỌC - CẢ NĂM - CÓ FILE NGHE (GLOB...
 
3.12.24 Freedom Summer in Mississippi.pptx
3.12.24 Freedom Summer in Mississippi.pptx3.12.24 Freedom Summer in Mississippi.pptx
3.12.24 Freedom Summer in Mississippi.pptx
 
Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024Awards Presentation 2024 - March 12 2024
Awards Presentation 2024 - March 12 2024
 
Pharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdfPharmacology chapter No 7 full notes.pdf
Pharmacology chapter No 7 full notes.pdf
 
Alamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptxAlamkara theory by Bhamaha Indian Poetics (1).pptx
Alamkara theory by Bhamaha Indian Poetics (1).pptx
 
Research Methodology and Tips on Better Research
Research Methodology and Tips on Better ResearchResearch Methodology and Tips on Better Research
Research Methodology and Tips on Better Research
 
Riti theory by Vamana Indian poetics.pptx
Riti theory by Vamana Indian poetics.pptxRiti theory by Vamana Indian poetics.pptx
Riti theory by Vamana Indian poetics.pptx
 
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...
2024 March 11, Telehealth Billing- Current Telehealth CPT Codes & Telehealth ...
 
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...
THYROID HORMONE.pptx by Subham Panja,Asst. Professor, Department of B.Sc MLT,...
 
Material Remains as Source of Ancient Indian History & Culture.ppt
Material Remains as Source of Ancient Indian History & Culture.pptMaterial Remains as Source of Ancient Indian History & Culture.ppt
Material Remains as Source of Ancient Indian History & Culture.ppt
 
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptx
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptxBBA 205 BE UNIT 2 economic systems prof dr kanchan.pptx
BBA 205 BE UNIT 2 economic systems prof dr kanchan.pptx
 
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17
How to Customise Quotation's Appearance Using PDF Quote Builder in Odoo 17
 
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...
HỌC TỐT TIẾNG ANH 11 THEO CHƯƠNG TRÌNH GLOBAL SUCCESS ĐÁP ÁN CHI TIẾT - HK2 (...
 
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...
DNA and RNA , Structure, Functions, Types, difference, Similarities, Protein ...
 
LEAD6001 - Introduction to Advanced Stud
LEAD6001 - Introduction to Advanced StudLEAD6001 - Introduction to Advanced Stud
LEAD6001 - Introduction to Advanced Stud
 
3.12.24 The Social Construction of Gender.pptx
3.12.24 The Social Construction of Gender.pptx3.12.24 The Social Construction of Gender.pptx
3.12.24 The Social Construction of Gender.pptx
 
The First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdfThe First National K12 TUG March 6 2024.pdf
The First National K12 TUG March 6 2024.pdf
 
Dhavni Theory by Anandvardhana Indian Poetics
Dhavni Theory by Anandvardhana Indian PoeticsDhavni Theory by Anandvardhana Indian Poetics
Dhavni Theory by Anandvardhana Indian Poetics
 
AI Uses and Misuses: Academic and Workplace Applications
AI Uses and Misuses: Academic and Workplace ApplicationsAI Uses and Misuses: Academic and Workplace Applications
AI Uses and Misuses: Academic and Workplace Applications
 

Reviving U.S. Manufacturing

  • 1. WHAT FUTURE FOR U.S. JOBS AND MANUFACTURING? REVIVING U.S. MANUFACTURING A Presentation to the Board And Staff of Interfaith Worker Justice MONDAY, DECEMBER 10, 2012 Robert E. Scott Director of Trade and Manufacturing Policy Research Economic Policy Institute
  • 2. Why is manufacturing important? • Source of high wage/good benefit jobs for workers without college degrees. • Cannot close the trade deficit without exporting more manufactured goods. • Best way to bring economic recovery – we need sustained demand, no bubble. • One job in manufacturing supports 2-3 additional jobs, eg, networks of suppliers, R&D, process engineering, etc; the loss of manufacturing means the additional loss of other high end, highly skilled jobs. • Manufacturing is essential to technological innovation.
  • 3. Why is manufacturing important? Manufacturing is essential for a healthy economy with good jobs
  • 4. Manufacturing Trends What have been the trends in U.S. manufacturing?
  • 5. U.S. manufacturing employment, Jan 1970-Oct. 2012
  • 6. The Trend in U.S. Manufacturing • 1970 – 1998: High manufacturing productivity growth was offset by rapidly growing demand for domestic manufactured, so manufacturing employment was roughly stable. • 1998 – 2010: 6.1 million manufacturing jobs lost. • Productivity growth caused only a small share of the manufacturing jobs lost since 1998. • Most of the lost jobs were due to the huge rise in the U.S. trade deficit in manufactured goods.
  • 7. Jobs and the Trade Deficit with China
  • 8. What happened to manufacturing There has been a big decline in the growth of value added in manufactured goods produced in the US, either for domestic consumption or export, largely due to a rise in the value of imports, harming the economy and workers.
  • 9. The Decline in Manufacturing Is the decline in manufacturing the inevitable result of productivity gains and/or globalization … so there’s nothing we can do about it? • NO
  • 10. The Decline in Manufacturing What caused the decline in manufacturing?
  • 11. The Decline in Manufacturing The decline in manufacturing is largely due to policy choices – today we discuss the two most important ones. 1.Unfair trade practices 2.Lack of support for the manufacturing sector
  • 12. Unfair Trade Practices: 1 Currency manipulation • Approximately 20 countries are significant currency manipulators including China, Taiwan, Malaysia, Saudi Arabia and Switzerland • Eliminating currency manipulation could create 2.2 million to 4.7 million U.S. jobs over next two to three years.
  • 13. Unfair Trade Practices: 2 Subsidies / dumping •China has poured tens of billions of dollars over the past decade into: • Steel • Paper • Auto Parts • Solar panels • Glass •China’s Steel capacity has increased ten-fold in a decade • China and many other countries found guilty in dumping cases (sales below cost) in many products
  • 14. Unfair Trade Practices There is a conflict of interest between Wall Street (financial institutions, large retailers, and ? multinational manufacturers?) and Main Street. Our policies support and our politicians are siding with Wall Street, not our Main Street manufacturers, but this is not in the best interests of the people of the US.
  • 15. Unfair Trade Practices Our trade problems and loss of manufacturing are largely driven by “Wall Street” corporations (multinational manufacturers and financial firms) that benefit from other countries’ unfair trade practices which allow them to produce cheaply abroad. The Citizens United decision enhanced the power of MNCs and Wall street firms. Our trade/manufacturing problem is a political, not economic, problem. It is not an inevitable outcome of globalization or productivity increases in manufacturing.
  • 16. Lack of Support for Manufacturing Other countries with strong manufacturing sectors provide support for manufacturers that we fail to do. The U.S. could and should support manufacturing. We’ll discuss specifics in upcoming slides.
  • 17. What can be done to address unfair trade practices and provide support for manufacturing?
  • 18. What Can Be Done re: Unfair Trade Practices • Eliminate global currency manipulation. Outlaw purchases of U.S. government securities by countries that won’t sell their own. This is legal under the WTO principle of reciprocity. • End subsidies. The most egregious are illegal under WTO. We need an independent government agency to initiate fair trade cases. • Trading system reform. Revise U.S. general administrative trade law.
  • 19. What Can Be Done re: Support for Manufacturing • Increase spending on training and community college programs • Increase government R&D (nondefense) • Greater access to capital for manufacturing firms • Manufacturing extension service • Invest in new industries, make commitments to new products (government purchases) • Invest in infrastructure: in short term, creates jobs and increases demand for manufactured goods; in longer term, boosts private sector productivity
  • 20. Manufacturing in the U.S. The U.S. can have, and needs to have, a strong manufacturing sector. It is a question of power, politics, and internal U.S. policies that can and must be changed.
  • 21. Additional Resource Harold Meyerson, “The Politics of Industrial Renaissance,” American Prospect December 2009
  • 22. U.S. manufacturing: Growth in real value added and labor productivity, 1990-2011
  • 23. U.S. manufacturing: Goods trade deficit, 1989-2011
  • 24. U.S. manufacturing: Real value added, 1989-2011