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U.S. Manufacturing Decline Raises Concern About Innovation
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American manufacturers are importing more of the parts that go into each product. According to Susan Houseman, a senior economist at the W.E. Upjohn Institute in Kalamazoo, Michigan, the imported portion for these parts is up to 25% from 17%. Even the Bureau of Economic Analysis figure of the share of GDP coming from manufacturing is overstated, says Houseman. That figure was 11.2% for 2009, but is closer to 10.5% if all the imported components are included instead of being counted as domestically made. This is down from 14.2% ten years ago, and about 30% in the 1950's. There is deep concern that the manufacturing decline has weakened America. Houseman says that one cannot separate manufacturing from innovation, and she asks if America can continue to be strong in R&D with a shrunken manufacturing base. James Jordan of the Interstate Maglev project, says Maglev- which uses special magnets to levitate and propel high-speed trains- was invented in the United States. Today equipment for that technology is manufactured and used in Japan, and innovation in high speed trains is taking place in Japan and Germany. The decline in manufacturing is shockingly large. From 1979 employment in manufacturing went down by 8.1 million to 11.6 million, with the largest drop occurring in the last ten years. With it America is losing something significant- all the knowhow and skills that go into making things. Today the airplane wings for several Boeing airliners are made in Japan and shipped here. In a not too distant past these wings would have been built here, and workers with the knowhow and skills for these critical components were part of Boeing's workforce.
Apple iPhone manufacturing in China, and the U.S. trade deficit
07/01/2010
How much of the iPhone is manufactured in China? 3.6% by China's Hon Hai, but this does not account for South Korean and Japanese suppliers using manufacturing bases in China. German suppliers also have Chinese factories. Production costs at Hon Hai itself are rock bottom, as a result the other parts would be too expensive if not manufactured in China. Reliable statistics would include the value of all suppliers who build i-phone parts in China and take into account the impact on the US of manufacturing jobs that would otherwise be available in the US.
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Mitt Romney opposed the auto industry bailout. An article by Romney with the title "Let Detroit Go Bankrupt," appeared in the New York Times at the time of the bailout. Auto executive Bob Lutz says he was profoundly disappointed by Romeny's position, as the situation was at a point where government loans were necessary. Auto executives see the vindication of their position in the recovery of Chrysler, GM and Ford Motor. In a bit of irony Romney, who is from Michigan, announced his candidacy for the 2008 presidential election at the Ford Museum in Dearborn. GM and Chrysler went into bankruptcy, but this was a planned bankruptcy, with the support of the U.S. government and a pathway set with loans and conditions so that would lead to eventual recovery. The fear was that a chaotic bankruptcy process would permanently impair the American auto manufacturing industry- and the planned bankruptcy with government conditions and loans was meant to avert this and still allow shedding or restructuring of burdensome obligations- as this way buyers would still have confidence to buy automobiles from GM and Chrysler. Auto executives point out that the private markets had already shut out GM and Chrysler from financing. Retired GE executive supported a planned bankruptcy with government help, because of the importance of the auto industry to the U.S. economy, in the Nov. 18, 2008 issue of Business Week.
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Andy Grove brushes off talk of sending technologies and jobs much needed at home to China, with the talk he hears of "a China strategy." He doesn't see how an America with high paying jobs and mass of unemployed could work. He says American companies have failed to scale up, the way Intel did in the seventies. For every Apple employee there are 10 employees in China working on Mac's, Iphones, and Ipads. The idea of manufacturing as not important is misguided and he would like to see America rebuild its industrial base.
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The need for a strong and growing manufacturing base in the U.S. is one key realization for business leaders from the heads of Boeing, Intel and GE, and other business leaders to leaders in government. Failure to do this simply breeds a sense of pessimism about the future and creates an economy that leaves many productive people jobless, creates unsustainable trade deficits and foreign borrowing. Jeffrey Immelt says this in an op-ed piece in the Washington Post on the day he is appointed to head the President's Council on Jobs.
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