Saturday, August 26, 2023

Workers

The US started globalization after WW 2 to fight communism. The US with the worlds largest and best Navy let the world know that the US would protect international global trade for all those countries that were anticommunist. When the Soviet Union collapsed in 1990 the need for global protection was no longer necessary and this meant the end of globalization. It started slow but expanded quickly with the nationalistic cry of bring the jobs home. Trump championed this with his MAGA campaign and followed up by reducing regulations on industry, energy independence and putting import taxes on China and Europe. Biden continued the trend and new manufacturing facilities are being built on a record pace across the South. With the new plants here in the US the supply chains are shortened which greatly reduces shipping cost and are less vulnerable to interruptions. The coming years will be the largest industrial expansion the country has ever experienced. The new NAFTA agreement was the frosting on the cake providing the US with reliable young workers in and from Mexico. Joining NAFTA is Japan which will build most of its cars here in the US because of labor shortages in Japan. Other countries short on workers will likely partner with the US by locating plants here and selling to Americans.

No comments:

Post a Comment