Interesting discussion on CNBC today featuring David Rocks of BusinessWeek and David Huether, the NAM’s chief economist. Issue at hand: Whether high energy costs, i.e., shipping costs, will encourage some manufacturers to locate more facilities in the United States rather than overseas (e.g., China).
Huether reports that import prices are rising and investment in manufacturing structures is strong, so the trend is discernible. Rocks sounds a bit more skeptical, saying that much of U.S. manufacturing capacity has gone overseas, and labor-intensive manufacturing is certainly not going to return.
You can watch the interview here.
Pricey oil is dulling the mainland’s edge in manufacturing. But American industry may not be ready to seize the opportunity
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