Shanghai (AFP) – Plans for a Boeing factory in China have been submitted to the government in Beijing, state-run media reported Tuesday ahead of President Xi Jinping’s US visit, where he will tour one of its plants. Read more
Molly Goodall’s store on Etsy, the online crafts marketplace, started as a creative solution to a parenting problem. Read more
California companies must now actually make their products in the U.S. to call them American-made.
Mostly. Read more
When the leader of the free world comes calling, most people jump. When the Obama administration first contacted Michael Araten, in November 2012, he hesitated. Read more
The Reshoring Initiative recently announced a program in partnership with Walmart to help companies manufacture more consumer products in the United States. Read more
It took less than a year for America’s factory output to rebound from the 1991 recession. It took 3½ years to bounce back from the 2001 recession. Now, six years clear of the Great Recession, manufacturing output still hasn’t returned to the pre-crisis levels it reached in 2007, according to revised economic data from the Federal Reserve. Read more
Growing trade deficit and the collapse of manufacturing output following the Great Recession are directly responsible for the loss of 5 million U.S. manufacturing jobs that occurred between 2000 and 2014. As the figure below shows, manufacturing started rapidly declining in 2000, just as the U.S. manufacturing trade deficit began to rise sharply. A rising trade deficit indicates that U.S. manufacturers are losing business to manufacturing industries in other countries like China and Japan, who manipulate their currency to make their goods cheaper and therefore more appealing to consumers in the United States and elsewhere. This leads to reduced demand for goods produced by U.S. manufacturers, both at home and abroad.
Between 2000 and 2007, growing trade deficit in manufactured goods led to a loss of 2.6 million manufacturing jobs. When the Great Recession hit and consumers pulled back on their spending, the collapse in demand for U.S. manufactured goods caused a loss of 2.3 million additional manufacturing jobs. While in the past the manufacturing industry has typically regained most if not all jobs lost during a recession, manufacturing employment after the Great Recession has experienced an anemic recovery—only 900,000 of the 2.3 million jobs lost have been recovered since 2009. This is because the manufacturing trade deficit has skyrocketed since 2009 as a result of the rapid growth of imports from China and other currency manipulators. The manufacturing trade deficit grew from $319.5 billion in 2009 to $514.6 billion in 2014—very close to its pre-recession peak of $558.5 billion in 2006.
In 2013, General Motors polled some U.S. Buick dealers about their volume and model-mix expectations for a new vehicle: a compact crossover that has since been launched in China as the Buick Envision.
The UAW said Tuesday it plans to address during contract negotiations the speculation that General Motors Co. is considering importing a Buick SUV to the U.S. from China. Read more
Twenty-five years ago, Ni Meijuan earned $19 a month working the spinning machines at a vast textile factory in the Chinese city of Hangzhou. Read more
