Made in USA

Long before Trump entered politics he was complaining about the way China manipulated its currency but no one paid any attention. The People's Bank of China manages the money supply and in 2005 the yuan was set at 8.2 per US dollar but by 2015 it had declined to 6.2. This meant that China's exports to the USA became cheaper. A $1,000 item in 2005 cost 8,200 yuan but by 2015 that same item only cost 6,200 yuan. This meant lower profits for Chinese companies but the government subsidized them to cover the loss. The result was that US companies could not compete and lost business and many went out of business. This, added to the fact that Chinese labor was cheaper because of low wages, lack of safety rules, no environmental regs and in some cases slave labor put US companies in a non competitive situation. This resulted in the lose of 5 million manufacturing jobs in the US plus many more in Europe. Big companies profited from low labor cost and college educated Americans did not notice these changes but maintained they were champions of the middle class while promoting policies that hurt the middle income workers. Trump saw this and began to make changes starting with placing import taxes on Chinese goods and this helped people to understand how globalization had hurt American workers. Now the push is on to bring home these lost jobs (reshoring). The times when so many products were marked made in China and people would complain that nothing was made in America are changing. It will mean higher prices for American consumers but it will also mean higher wages which will result in inflation while the changes are made but in time the American worker will once again have a job that pays a living wage.