Reindustrialization

One of the major aspects of ending globalization is the bringing of manufacturing jobs back to America. The impetus for this is three-fold. First the recognition that national defense depends on having a secure source of materials. Second the cost of transportation has risen dramatically. Third production at home is close to the major markets meaning closer supply chains. The doubling of the industrial base over the next ten years will come from three areas. First the existing US companies operating in the US will expand production. Second, foreign companies currently operating in the US will expand and third foreign will invest additional funds in the US. The last group will occur in three stages. The first step will be preparing the factory sites. Second will be installation of equipment and third the hiring of workers and the purchasing of raw materials. In today’s fast paced world, companies have to be able to change directions quickly. With production close to home meaning shorter supply chains, change can be completed more efficiently. Imports needed for manufacturing will slowly decline as more products are made in the US.