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A robust economy needs a proper amount of manufacturing. While Wall Street might post revenue numbers a manufacturer can only dream of, the financial crisis of
by _ph_ 11y ago
A robust economy needs a proper amount of manufacturing. While Wall Street might post revenue numbers a manufacturer can only dream of, the financial crisis of the past should show clearly enough that finance and services alone cannot sustain a national economy. The good news is though, that globalization is a two-way road. In our day and age, manual labor becomes a constantly smaller part of the industrial production costs. This means, that even at higher wages, production can be competitive, if it is balanced by quality, less transport cost and being closer to your customer.