Thursday, March 19, 2020

Higher prices for safety

An old adage says there is a silver lining in every cloud and this is true with the coronavirus. It has brought to the attention of the public that the US is dependent on China for many necessary items most importantly but not limited to pharmaceuticals. Many feel it is time to bring home the manufacturing of critical products. It just so happens that this fits neatly into what Trump has been saying for years. Somehow US negotiators have allowed China to become the sole producer of certain items that would be considered necessary for the countries safety. Companies sent so many jobs overseas that the US can no longer provide needed items on its own and must rely on other countries especially China. It is time to bring manufacturing back home and consumers will have to pay higher prices for this safety feature. This means that wages will go up and so will prices which may lead to wage/price inflation. It is a price that must be paid to keep the country safe.

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