“It is within the right of writing the great changes that the nation is bringing by ensuring that the goods and services made in the name of the country as successful in increasing its capital and business shape. It has been long since the United States held that banner and respect of producing mass products to the international market, one old folk could only remember the 1970’s when the United States was still struggling but could at least take pride of production vehicles and other relevant goods and services. From the economical and politically of views, a new nations and concept of increasing local productions through made in Kenya initiative will surely play a major role in the development and growth of the manufacturing sector and later revive the American depression that has affected the nation economy for years, (Gordon, 2010).
Buy Importance of Goods made in America essay paper online
The attempt by the US government to sign a memorandum of understanding with the Republic of Korea on expansion of manufacturing activities was in line with the development of the total manufacturing process. For so many years, The US government had been investing in programs which shift jobs to foreign nations like China, practices that led to the development of other nations hence the US missing from the map on production , manufacturing and the Made in America prestige. To support the concept, the following are some of the aspects and objectives that will lead to a flourishing manufacturing sector. The major benefit of manufacturing is the provision of middle class jobs to a million of unemployed people. The US unemployment rate stand at 7%, a greater percentage than it was 12 years ago when the nation was also in the same kind of a fix, (Gordon, 2010). As the US is facing economic challenges so as the world, there is need to cut related costs and further economic turmoil hence provision of employment t o the unemployed and creating a financing source to the government. Also employment will be able to have a higher mobility and strengthens the middle class to benefit the entire economy.
The manufacturing sector based in he United Sates will also offer a broad view of jobs than the traditional companies based in the United States. Higher level skills from all kind of specialties will be needed i.e. accounting and engineering, law and medicine, research and maintenance, operations and transportation, product design a testing, lab work and technology development. Hence in every field individuals will get a chance to participate and learn the concept producing all American products to the world. The major reason why high end corporations have been shifting their operations from the US market due to high cost of manufacturing, but then since the US market has had an improved technological skills and innovation leadership hence there is current intentions by corporations of keeping the up the feedback process whereby he operation process is not cut. Currently the manufacturing sector supports 17 million jobs.Want an expert to write a paper for you Talk to an operator now
Figure 1: Manufacturing employment over the last half-century.
The chart represents the fall of manufacturing over the last few years due to moving to fewer factories and reduction of American goods made and relocating manufacturing to low production areas. Taking manufacturing to where there are high end skills to do their manufacturing. Manufacturing will nurture the young innovative skills and technological advancement which also very critical economic competitiveness of the nation with regards to the national academia experts, industry experts and government participation, (Wiley, 2011). Data shows that manufacturing workers had a better share of annual earnings of $77, 186 compared to industry $56.456 making manufacturing workers the highest paid. Therefore creating manufacturing in America, the concept of “Made in America” will help in creation of jobs, improve creativity among the industry skilled and ensure a better technologies and economic sound nation.
Manufacturing will also benefit the Unites States of America at a greater effort by strengthening and increasing the nations’ economic stability. The United States of America is currently facing an economic languishing period whereby there is need to strengthen and attain stability in some of the sectors. Manufacturing is one of the key sectors. China and Japan confer their economic prowess from the massive manufacturing and investments which have both countries to grow in both their economy and an also their trading markets. Over the 5 years the USA was top three manufacturers in the world hence reaping 60% of revenue from manufacturing operations with a key manufacturing in car manufacturing by selling 12.53 million units, the highest in a half-decade. According to the USA department of economic statistics, manufacturing endorses 11.7% USA GDP as every $1 spent in manufacturing leads to a $1.35 addition to the economy. Therefore the key sector that can rebound the economic status is manufacturing since some sectors like construction has failed to present any attainable and meaningful effort. Manufacturing can be a risky business as it involves broader economic events, but then its dynamic diversity can help process consumer and industrial goods, that will help serve the external and local market of the United States hence providing it with potential resilience.
In conclusion, a strong and dynamic local manufacturing sector and industry will help and protect the United States from any unprecedented economical and political disruptions. United States of America is the world supper power hence it’s aligned with a lot of allies and enemies alike. Hence at this realm there is need for a strong international security which can be boosted with a strong manufacturing capability, (Dertouzos, 1990). Manufacturing capability is relevant to the military strength as an overreliance of imports and substantial trade deficit which may in the long term the nation may be vulnerable to exchange rates changes and even trade embargoes.
Therefore the common talk that the manufacturing sector of the US is far gone are mistaken, the manufacturing sector is far much alive and it’s upon the American government and stakeholders to awaken this industry. The US manufacturers are the most productive and creative in the world and taken alone it will be the 9th largest economy in the world. In the year 2010, the US ranked third in manufacturing behind China and Germany hence showing that the manufacturing ingenuity and prowess that it held is growing stronger and each day we should be able to admire and praise all “Made in America” products”.
Related Free Economics Essays
Most popular orders