Fortune brings to attention this report by Deloitte, noting that its 2016 Global Manufacturing Competitiveness Index shows that the United States is a manufacturing powerhouse second only to China, and on course of becoming first by the year 2020. Above, a screenshot from the report showing the top ten countries in competitive manufacturing. To my surprise, Canada is on that list.
So why has the United States been shooting up the ranks? Long gone are the days when cheap labor was the most important input for manufacturers. Total manufacturing employment in China peaked during the 1990s and has been falling ever since. And as manufacturing continues to reduce the number of workers needed, the important ingredients to success in the sector are whether advanced technologies and materials are available, and whether or not intellectual property protections are strong. The United States beats out China on both of these scores.
This is not to say that anxiety over the decline of manufacturing employment is misguided. While it's good that manufacturing firms think that the United States is a great place to do business, their success in America will not have the same impact, in terms of providing a huge number of well-paying jobs, as they did a half-century ago.
|“I always ask every client, ‘Are you prepared to sustain this lie?’”|
|Brutal Honesty, Now on Sale|
|FAUXGO: A Collection of Fake Logos From Movies|
|Staples to Provide In-Store 3D Printing Service|
|"I do that because I think we can do it here and make more money." Manufacturing Returns to America|
|“We estimate the dynamical lifetime of the Tesla to be a few tens of millions of years.”|
|“Facebook is a declining power.”|
|The 24 Carrot Cake|
|“There are over a billion people who have no access to energy what-so-ever.”|
|Japanese Robot Serves Ice Cream From Inside a Vending Machine|
|CaptchaTweet: Write Tweets in Captcha Form|
|The (Very Scary) People of Public Transit|
|How to Avoid Jury Duty|
|“What happens when anyone can make it appear as if anything has happened, regardless of whether or not it did?"|
|"What if plant cells could be grown for food by regular people."|
|“Can a platform be 'cool' if your aunt, grandfather, and third grade teacher all use it?”|
|"Automation will disrupt millions of Canadian jobs, not far in the future, but in the next dozen years."|