Manufacturing’s Wake-Up

A debate over the future of U.S. manufacturing is intensifying. Optimists point to the relatively cheap dollar and the shrinking wage gap between China and the U.S. as reasons the manufacturing sector could come back to life, boosting U.S. competitiveness. Whenever production statistics in the U.S. surge, they bolster that hope. But then, when disappointing economic growth indicators are released, the pessimists weigh in. They argue that the U.S. has permanently lost its manufacturing competitiveness to China and other countries, and that manufacturing might never return to its role as the li.....