What caused the reduction of manufacturing jobs here in the U.S. over the years?
What really caused the loss of manufacturing jobs over the years? Is it due to the fact that countries such as china have under-valued their currency making it cheaper for U.S. firms to move their businesses abroad to create cheaper products? Or is it more due to international specialization and trade, where many manufacturing jobs were lost as a result of specialization by different countries such as China and Japan therefore making these industries become opportunity costs to the U.S.? Or is it a little bit of both?
Asked By: Cruzr - 5/4/2010
Best Answer - Chosen by Asker
Ronald made some very good points. I work in an American company in the office in China. The ONLY reason they are here is due to the high cost of remaining in the US. cost of labor, insurance but the biggest reason is the looooooooong list of taxes imposed by government regulations... More
Answered By: Tony - 5/4/2010
Additional Answers (3)
NAFTA and the rise of China.
Answered By: Common Sense - 5/4/2010
Exporting manufacturing jobs is cheaper for US companies than maintaining the jobs domestically in the US. This is because... More
Answered By: Squash-Pumpkin - 5/4/2010
It is both but currency manipulation is a big part. You didn't mention American labor unions as a cause but they were very much to blame. The UAW and the steelworkers unions sh-t in their own mess kit. However, when you lose the manufacturing base you also lose the jobs and eventually people lose their buying power... More
Answered By: email@example.com - 5/4/2010
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