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Long article … as this is a complex matter. Foreign policy is another significant factor. A large percentage of computer chips are made in Taiwan. Communist China has their eye on taking over Taiwan, and the Ukrainian invasion by Russia has stoked China’s boldness to do go for Taiwan as it will be a formidable challenge for the western allies to fight Communist Russia and China on two fronts at the same time. No surprise that China and Russia are close allies currently. Some Taiwanese computer chip manufacturers are currently engaged to construct major chip manufacturing facilities in America. That is a great “long term” solution that will help US manufacturing and relieve Taiwanese chip manufacturers of the ever present threat of Communist China taking over Taiwan and all the manufacturers operating in Taiwan. There are pros and cons to lowering costs by relocating production in other countries that pay much lower wages. There is a great advantage and comfort to invest in jobs in countries that have stability politically and culturally. That has been a drawing card for producing goods in America. Might be a good idea to promote increased cultural and political stability here at home right now. We’ll see how that works out in the years ahead.
How about we start with moving oil and gas production, along with the related jobs, back to the US? That will create jobs and lower inflation somewhat. Sure AOC and Gretta will be miffed, but is that really who counts?
Who’s Gretta?
Perhaps Greta Thunberg?