Jim McNerney, president, chairman and CEO of Boeing, gave an important big-picture speech on the U.S. economy and manufacturing Thursday at the Woodrow Wilson International Center for Scholars, remarks entitled, “Renewing and Competitiveness and Innovation in a Changing Global Economy.”
Boeing’s top executive laid out three areas of concern to aerospace and other industries, which he identified as “thorny issues”:
First: economic trends that hinder innovation — including large U.S. deficits, regulatory burdens and tax policies; Second: trade policy — the rise of aggressive (and sometimes government-subsidized) competitors abroad amidst a growing sentiment toward protectionism (a tough mix!) and; Third: a shrinking U.S. industrial base fed by an even-faster shrinking pool of workers who are skilled in the problem-solving fields of science, technology, engineering and math.
Indeed, that’s as good of a quick summary as you’ll find of the huge challenges facing the U.S. manufacturing economy exacerbated by misdirected, wrong-headed, bad government policies. (If you need a fourth bullet point, supply-restricting energy policies would fit.)
Below we note Colombia’s critique of U.S. trade policy, but of course U.S. trade policy should be driven first by U.S. self-interest. So let’s look at four news releases from Boeing, all from yesterday:
Why would the U.S. government surrender market share through inaction on trade when we have great, supercompetitive companies like Boeing? (continue reading…)