If Reshoring's Happening, Where Does The US Get The Capital Goods?
Date
1/27/2025 7:04:25 PM
(MENAFN- Asia Times)
Noah Smith asserts in a commentary republished January 27 by Asia Times that“reshoring US industry is possible and happening.” His argument is based on egregious misrepresentation of the facts.
Some of his misstatements depend on cherry-picking the date range – for example, a chart that shows battery production up 20% since 2018. But US battery production is down 20% from 2014, if one looks at a long-term chart (below). That's not a success story. Never mind that overall manufacturing production peaked at 106 on the federal Reserve index in 2007 and now stands at just 99.
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