My latest project-syndicate.org/commentary/us-…
One industry that we should consider reshoring is shipbuilding. We can do this for free by mandating that all large ships that access USA ports be built, maintained, crewed, based and inspected in the USA. The plethora of consistent work for domestic yards would allow them to enlarge and staff up and provide good secure jobs. National security and industrial infrastructure is also enhanced.
@rodrikdani A big risk America's industrial strategy is that most of the incentives are directed to foreign companies (TSMC, Samsung, Hyundai...) to build branch plants w/t short useful lifespans (2yrs) It's like Canada's industrial strategy in the last century, branch plants: 1st to close
@rodrikdani @phl43 In 2023 the U.S net imports of good was more than $1 trillion dollars. Some of this was raw materials, but most of it was manufactured goods. This was not a 1-year phenomenon: we’ve run at or close to $1 trillion for years. How many jobs would eliminating this deficit create?
@rodrikdani You probably love Californias high speed rail then.
@rodrikdani It is not about jobs. It is about NATIONAL SECURITY. Wars are not fought and won with stock options.
@rodrikdani Interesting. It is dependent on what you want to manufacture and the tech you choose? Or soon there will be no choice?
@rodrikdani Few good jobs in semiconductors and filled by Taiwanese engineers.
@rodrikdani You leave us hanging… what policies for “rebuilding the middle class, generating enough good jobs, and reinvigorating declining regions”??
@rodrikdani Yeah, but we may have to fight a war against China.
@rodrikdani There won't even take place a renaissance with an overvalued US dollar that neither the FED nor the US federal are able to reverse as the US falls deeper as a net international debtor.