Was the loss of traditional manufacturing inevitable in the U. S. economy? 2) Can the United States hold on to its current manufacturing base? If so, what needs to be done to do so? If not, why?

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Business

Jacey Lester

11 March, 03:01

Was the loss of traditional manufacturing inevitable in the U. S. economy? 2) Can the United States hold on to its current manufacturing base? If so, what needs to be done to do so? If not, why?

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Rey Lucero · Answer 1

1. Yes, the loss of Traditional manufacturing was inevitable in the US economy due to trade deficits and technological Innovation.

2. No, the US cannot hold on to its current manufacturing base

Explanation:

1. The principal causes of manufacturing job losses were growing trade deficits followed by Technological innovations that is gradually replacing human tasks with machines and Artificial Intelligence.

U. S. manufacturing employment has declined steadily as a share of total employment, from around 28% in 1960 to 8% in March 2017.

Manufacturing employment has fallen from 17.2 million persons in December 2000 to 12.4 million in March 2017, a decline of about 5.7 million or about one-third.

2. NO, The US cannot hold on to its current manufacturing base except they

Develop a national trade strategy and increase funding for U. S. trade policy-making and enforcement agencies. Fully fund a nationwide manufacturing skills standards initiative. Expand high-skill immigration, particularly which focuses on the traded sector