Why America Needs a National Manufacturing Strategy
A national manufacturing strategy would help U.S. industries stay on the cutting-edge of emerging technologies, enhance overall knowledge generation and thereby prevent economy-wide erosion of innovation capacity even if some market share is lost to overseas competitors.
A robust traded sector economy is essential to U.S. global competitiveness, and a strong manufacturing base is central to traded sector strength, as I have noted previously.
Unfortunately, manufacturing in the United States has lost competitive advantage in the last 15 years and unless this turns around significantly it will continue to be a drag on our efforts to fully recover from the Great Recession.
There is no inherent reason the United States could not run a significant trade surplus in manufacturing. America possesses the tools, talent, and resources to revive industrial production and our innovation economy.
Unfortunately, manufacturing in the United States has lost competitive advantage in the last 15 years and unless this turns around significantly it will continue to be a drag on our efforts to fully recover from the Great Recession.
There is no inherent reason the United States could not run a significant trade surplus in manufacturing. America possesses the tools, talent, and resources to revive industrial production and our innovation economy.
Read the rest of the article here: http://www.industryweek.com/competitiveness/why-america-needs-national-manufacturing-strategy?goback=.gde_4765254_member_267015572#%21
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