Quick Summary
Additional Context
The problem with US manufacturing is the productivity growth rate. Depending on the source, US manufacturing productivity has either been flat or slightly declined since 2010.
Before going any further into the discussion, it’s worth mentioning that, on this front, the US shouldn’t be singled out as some exceptional case of stagnation, at least in the context of other comparable national economies. The US has fared better in manufacturing productivity growth over that time period than European nations. Moreover, Japan’s manufacturing productivity growth over the last fifteen years or so, while better than in the US, hasn’t been much better, and is indeed low enough to raise concerns, as well. But, because of the unique manner in which non-Chinese economies appear currently to be attempting