Manufacturing in America, post-globalisation| FT Film

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Financial Times

Financial Times

День тому

The FT's global business columnist Rana Foroohar looks at why the US should bring manufacturing jobs back home. In the second of three films based on her new book, 'Homecoming: the path to prosperity in a post-global world', she follows the all-American supply chain of clothing company American Giant, to see how it impacts jobs, businesses and communities
#useconomy #manufacturing #globalisation #us #business #jobs #globaleconomy
00:00 Made in America, Again
01:20 An all-American supply chain starts here
03:17 What went wrong with globalisation?
07:00 The cotton gin - a risky business
09:53 Automation at a high-tech mill
13:16 Why manufacturing is important
19:59 The family-run finishing factory
23:21 Worker innovation at the sewing factory
27:33 Education, training and community
29:07 A moment for change?
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КОМЕНТАРІ: 1 800
@castovelazquez6398
@castovelazquez6398 Рік тому
As a retiree from 35 years in manufacturing it is encouraging to see we are coming to our senses and acknowledge that industry builds the wealth of society
@OneAdam12Adam
@OneAdam12Adam Рік тому
Absolutely!
@bharatpenumutchu6487
@bharatpenumutchu6487 Рік тому
Forgive me if this is as dumb question, i am just asking this out of curiosity. Won't the cost of the product be passed on to the consumer, also like the documentary said most of these jobs are automated, i have a feeling this will work only if heavy tariffs are imposed on imports not only China, Bangladesh, Vietnam etc. which will naturally dissuade companies from importing..but is this possible? It does seem to be a popular position which is very likely the main reason (IMO) President Trump got elected and why President Biden is taking similar stances.
@qiyuanxu1527
@qiyuanxu1527 Рік тому
@@bharatpenumutchu6487 agree! Lighthizer argues that free trade is about price optimization and the consumption , but he believes that the production is more important. Since production leads to good jobs, good wages, and the health of American society. But this logic is flawed . Free trade itself is not limited to consumption and demand, free trade is also about the production side. Free trade will improve global output and total wellfare, meanwhile US also play the comparative advantages and get much more from free trade. The key problem is that the U.S. has not done a good job of income distribution, or even a bad job for income distribution. This is the real factor that has led to the problem of widening income disparity and ssocial contradictions.
@justinmiller1118
@justinmiller1118 Рік тому
Yes!
@joelc9439
@joelc9439 Рік тому
Correct but you have to realise that stuff produce in Japan, China and Taiwan are of better quality compared to American made goods. Just look at the car industry to begin with.
@joebullwinkle5099
@joebullwinkle5099 Рік тому
Once America turns its attention to something, nothing can stop it. We need an economy that works for regular people, hopefully we are heading in that direction.
@daxtynminn3415
@daxtynminn3415 Рік тому
Agreed, if both parties and the american public want something they get it.
@cinpeace353
@cinpeace353 Рік тому
Too bad the attentions are always overseas, instead of internals. It's time to make the changes. Taking care internal problems first.
@youme1414
@youme1414 Рік тому
Stop fighting war too. You can do that as well
@buildmotosykletist1987
@buildmotosykletist1987 Рік тому
Great attitude Joe, that's why you and America are doing so well.
@daxtynminn3415
@daxtynminn3415 Рік тому
@@buildmotosykletist1987 I mean compared to everbody else were doing fantastic. Russia and Ukraine are killing each other. The UK and EU are all in recession and it's getting worse. China is seeing it's slowest GDP growth and largest protests in 30 years. Iran's government is on the brink of collapse. Things are not this bad in the US.
@jonbeltrano3925
@jonbeltrano3925 Рік тому
This storyline is brilliant. Capturing the entire process from crop to manufacturing was a great idea.
@BCSTS
@BCSTS Рік тому
This whole idea is what is needed not only for US but also Canada.....for so many reason....maybe someday we can once again talk to someone in North America when you need customer service...or dare I say, even somone locally!
@pattyhsieh
@pattyhsieh Рік тому
As an international business student back in the days, the first things you learn are Adam Smith and David Ricardo’s theories on free trade. And it’s easy to hold it as true and the right way to do business. Only after so many years, its harm on environment, society and communities become apparent and makes you realize the system had so many hidden costs that were not discussed back then
@robsollart2580
@robsollart2580 Рік тому
Did they teach you in business school that Adam Smith wrote another book, theory on moral sentiments?
@richardmakiya7188
@richardmakiya7188 Рік тому
Totalmente de acuerdo. Hay vicios ocultos que recién nos damos cuenta. Inclusive, si aplicamos dogmáticamente las teorías de liberales de Adam Smith, la PRODUCCION norteamericana desaparecería frente a la China. ¿cómo se soluciona eso? Pues aplicando una mayor intervención del Estado (como lo hacen los chinos) o manipulando a los consumidores con mentiras como la supuesta falta de derechos humanos con los Uigures de Sinkiang para de esa manera justificar medidas anti Adam Smith.
@casteretpollux
@casteretpollux Рік тому
If you've study history you'll know that trade war and world war is a short step before world war. So what is your answer? Imo capitalism is bust.
@tslee8236
@tslee8236 Рік тому
One of the cons of specialisation. Economists also promote constant economic growth. People just ignore that many of the theories mostly apply to localised optimisation. The costs of occupation diversity should be considered as part of social costs.
@pattyhsieh
@pattyhsieh Рік тому
@@robsollart2580 Pretty sure no. Thanks, will look into it.
@JG-zt3cg
@JG-zt3cg Рік тому
I was a strong believer in global markets as a way to improve the world but never imagined how it would hurt US manufacturers and communities. I might have been wrong. Thanks for a great documentary.
@tepidtuna7450
@tepidtuna7450 Рік тому
So was I. But since some nations "gamed" the altruism then it's time to bring jobs back in house. Globalisation worked, it got many out of poverty, but it cost the developed world. Now they need to compete on a level play field.
@lore00star
@lore00star Рік тому
You were not wrong. Globalization really helped the society as a whole that we can now start thinking to go back to manufacturing in western countries again. Manufacturing became much easier and technology can now be used to produce more, better and with less labor force that we do not have (or want to do).
@neilpapermodels
@neilpapermodels Рік тому
Many of the Caribbean countries saw this happening in the beginning when we lost a lot of our traditional markets for our produce, bananas, sugarcane, etc. to larger agricultral suppliers. Now we are seeing the effects on larger countries as well. This is a real eye opener. Great documentary.
@yvonneplant9434
@yvonneplant9434 Рік тому
As I just mentioned manufacturing in Philadelphia was enormous in the past. Everything was made here from steam locomotives, tools to safety pins. There's still evidence of it in some neighborhoods.
@Western_Decline
@Western_Decline Рік тому
@@tepidtuna7450 not gonna happen
@Ammo-Hoarder
@Ammo-Hoarder Рік тому
I am 63 years old. All my life we have been in some kind of economic problem. During periods when the economy was "good", it was triggered by massive spending and debt. This country has never been allowed to flourish the way it could. This period reminds me of the 1970s when I first experienced inflation. I remember buying cigarettes from a vending machine and how quickly they went up in price. In the mid-'70s, cigarettes cost around 60 cents. $1. Today's inflation is the worst I've ever seen and it's a fire that more spending can't put out. If compared to the potential of our countries, we are in a total depression. Regardless of what you've experienced in your 'So Far, always keep in mind that debt and free-flowing credit have been responsible for it. The chickens have come home to roost and economic mother nature is about to crash. head out. Does anyone realize we used to have 25 million well paid?" Manufacturing jobs here in the US where you could actually afford to raise a family? All of those jobs were shipped offshore so big corporations could use slave labor and game the system more. When I was a child, fathers worked and mothers raised children and You could do it on the salary of a salaryman. Today they both work and cannot make ends meet. We have been robbed blindly and there will be hell to pay for all the suffering and misery that our corrupt politicians have done to us.
@IAMBETTERTHANYYOU
@IAMBETTERTHANYYOU Рік тому
Well said. I'm 56.5 years old. I also remember living in the inflation of the 70s. It was horrible. Unfortunately, it does look like the inflation this time will be much worse. It's hard to run debt free. I recommend to folks who will listen to try as best they can to get as close as they can to being debt free. Pay off everything and stop using credit. Using credit and financing cars or whatever else is just handcuffing people.
@MatthewVinson
@MatthewVinson Рік тому
For decades, government policy has been throwing the future under the bus. The day of reckoning is coming. I expect the stock market to crash as much as 80%. Investors will rush out of stocks and into real assets, There's going to be no cash in the banks.... You need a survival plan.
@MIchaelGuzman737
@MIchaelGuzman737 Рік тому
@@MatthewVinson a plan of survival? What would you propose, kindly? My portfolio's reds are getting on my nerves.
@84gaynor
@84gaynor Рік тому
@@MIchaelGuzman737 Edward, I'd advise novice investors to purchase shares in reputable companies and hold them for as long as those reputable companies exist. Simply follow my advice and disregard the market predictions and opinions, which are at most amusing but entirely pointless. The majority of those who criticize passive investing are active managers as well. When beginning off, it is recommended to seek the advice of a fiduciary financial advisor. I went with "LISA ELLEN SHAW" and had nothing but wonderful experiences with her. I will soon be putting a down payment on our dream home after increasing from $30k to $210k. It appears to be outperforming both the index and the S&P 500.
@MIchaelGuzman737
@MIchaelGuzman737 Рік тому
@@84gaynor Thanks for this. I just read about "Lisa Ellen Shaw". Quite an interesting lady to look up on the web. I dropped an email on her webpage and hope she replies soon.
@MauricioYouTube
@MauricioYouTube Рік тому
Excellent segment, bravo FT for showcasing how the offshoring of our manufacturing base has led us to where we are today. There's a saying idle hands make a devil's work. The US needs a meaningful and diverse job mix that challenges the hearts, minds, and hands. There's nothing wrong with four-year degrees, except that many people are NOT cut out for that road.
@noelgibson5956
@noelgibson5956 Рік тому
Yeah a useless degree means nothing to people who love using their hands and making things. When you remove people from a factory and direct them into an office or the service sector, they may just wind up on the welfare que. Some just aren't cut out for it. Reshoring is a great trend. I just hope the union's keep their snouts out of it and stop making demands that ultimately lead to closures. Will they be on board this time, or continue being a thorn in the side of local manufacturing?
@Hindu_Ram121
@Hindu_Ram121 Рік тому
Will shifting back to US actually help the US people? Bcs even then the govt will most likely bring in a lot of immigrants especially from India to fill up their labor force
@SandcastleDreams
@SandcastleDreams 4 місяці тому
DeSantis has put an emphasis on Trades and being able to graduate from HS with a certificate that allows you to be job ready!
@javidiaz7071
@javidiaz7071 Рік тому
So revealing, so thought provoking and unlearning challenging. I'm not American, I come from the emerging economy side of the story and globalization kind of killed our industries too and our local production. We only get a piece of the supply chain and then we don't necessarily reap the benefits of a "cheaper price".
@johnd2058
@johnd2058 Рік тому
How are your supply availability issues? Here in New York, I work at a hospital, and we wait weeks for something as simple as a rubber gasket for our instrument washer.
@hankhillsnrrwurethra
@hankhillsnrrwurethra Рік тому
@@johnd2058 I work in R&D for a tech manufacturer. We can't get enough inputs to make product. Our lab is steadily being cannibalized for customer needs. That sets us back on the design curve for new tech. The supply chain is still a mess.
@meilinchan7314
@meilinchan7314 Рік тому
Globalisation didn't kill our industries, it encouraged it. Mahathir's investment in the MSC was a step forward for us in harnessing globalisation for economic growth. Good times, those.
@nigellei8591
@nigellei8591 Рік тому
Globalization makes stuff cheaper. like $200 for a 40 inch hdtv. $1.50 for a white t-shirt. cant do that if no globalization,
@joelc9439
@joelc9439 Рік тому
Correct but you have to realise that stuff produced in Japan, China and Taiwan are of better quality compared to American made goods. Just look at the car industry to begin with.
@duncanwil
@duncanwil Рік тому
Having seen the way that US manufacturing gave away its jobs and factories, at least from the early 1980s, as did the UK under Thatcher, it is good to see industries rebounding now. An enjoyable film, I thought!
@medeliworld
@medeliworld Рік тому
Gave away? Nobody forces companies to move its manufacturing out of America.
@duncanwil
@duncanwil Рік тому
@@medeliworld no one said force. They bought so many things from China that the jobs went to China.
@charr6108
@charr6108 Рік тому
@@medeliworld policies that make it impossible to run a factory, search them up
@uiu510
@uiu510 Рік тому
"Gave away" 🤣😅🤣😅
@uiu510
@uiu510 Рік тому
@@medeliworld facts
@mikedevere
@mikedevere Рік тому
Great piece. I'm Europen but no less share the view that onshoring of skills is essential for our societies, economies and our environment. Finally, someone is making sense!
@Chitoalf88
@Chitoalf88 Рік тому
❤ I remember growing up in the Philippines in the mid & late seventies always looking for the tag “Made in America.” Levi’s Jeans was so in demand but anything made in America meant quality, status & also abit exclusive.
@anthonytran7566
@anthonytran7566 Рік тому
Now Made in the Philippines (only bananas products exported to China).
@glennw469
@glennw469 Рік тому
Lol
@SafavidAfsharid3197
@SafavidAfsharid3197 Рік тому
Least western worshipping penoy.
@RollyBalondo
@RollyBalondo Рік тому
definitely better than Levis made in China now.
@mythbusterUSA
@mythbusterUSA Рік тому
Meanwhile silicon valley outsourcing thousands of jobs to India and nobody is talking about it.
@robinsonrex1280
@robinsonrex1280 Рік тому
The IT sector doesn't generate that much jobs as the manufacturing sector does. Even in India, the IT sector employs far less people than other sectors do. And it seems that life isn't that good as it once was for IT sector workers there. Stagnant salaries have driven IT workers to do two jobs to survive. All of this has driven the government there to push for manufacturing.
@magicmagus1459
@magicmagus1459 Рік тому
IT sector in india doesnt do anywhere near the level of development that silicon valley does...IT in india is mostly used for software testing, editing and other simple tasks etc... the tasks of developing the software, creating the technology, focus on innovation is still done in silicon valley...
@piushpaul4880
@piushpaul4880 Рік тому
@@magicmagus1459 dead wrong ...why are US people so ignorant and act like smart people
@MyKarur
@MyKarur Рік тому
Brilliant Rana. This is so timely.The best example of a successful model was german Industry spending money to retrain its workforce and investments in new manufacturing.This is how germany became so successful. Idea of buying cheap, no matter where it comes from, helps Walmart but not Americans.If cheap labor is what the US needs, use Central/South America.Time to reshore and create regional manufacuring.This is what will sustain rural American communities
@tjsells9288
@tjsells9288 Рік тому
As a younger generation gives me hope for my country 🎉
@peteg6118
@peteg6118 Рік тому
Excellent presentation. I've been an advocate for the American lead world order but things have gotten out of hand since the 1980s. I'm in the middle of Rana's latest book, "Homecoming" and it is an amazingly succinct and interesting read. I highly recommend it to anyone interested in this video. Thanks, Rana.
@kyerwhite4177
@kyerwhite4177 Рік тому
The same thing happened Here in Canada, my hometown lost 1000’s of manufacturing jobs in the 1990’s. I.e. cotton mill operated there for over 100 years. The town is a shadow of its self now.
@simoncollins6529
@simoncollins6529 Рік тому
Same happened in Britain. The entire West has been mismanaged by the Western elite who've only focused on short term profit
@rickgillis1613
@rickgillis1613 Рік тому
I am also Canadian, I was born in a small town in Cape Breton. Which still exists at about 1/3 the size it used to be by population. It sits on a massive coal seam(s) & none are in production, BUT the electric plant still burns coal, imported from South America !
@geoffoakland
@geoffoakland Рік тому
There is a good documentary about globalization on Netflix. An old GM plant in Dayton Ohio was purchased by a Chinese company.
@joelc9439
@joelc9439 Рік тому
Coal from South America is more green compared to other countries.
@trashchannel8967
@trashchannel8967 Рік тому
it is not the fault of globalization, it's the fault of the burocracy/taxation environment in the area that is worse that somewhere else.
@peterbeyer5755
@peterbeyer5755 Рік тому
I live in Australia I have a shirt made in the USA, it is one of the best quality shirts I have owned in my 60 years.
@paulwolf9387
@paulwolf9387 Рік тому
everyone in the world should buy american
@nigellei8591
@nigellei8591 Рік тому
did you paid $80 for it?
@paulwolf9387
@paulwolf9387 Рік тому
@@nigellei8591 american production is not cheap, but it is the best
@pangdrum1252
@pangdrum1252 Рік тому
lol
@smallstudiodesign
@smallstudiodesign Рік тому
The Covid-19 pandemic has been a huge wake up call on many fronts … and one of the most revealing being the fragility of our global supply chains. I see this movement as a silver lining in rebuilding more value-added tertiary economies that truly support the regional communities’ developments.
@thinkingmobility
@thinkingmobility Рік тому
Re American Giant, it is a good example of an overall very good story. At $138 for a hoodie and $198 for a pair of standard chinos though, how many American families can afford them? I guess we'll have to get used to having fewer, better pieces of clothing rather than more, cheaper, throw-away clothes. Can our culture evolve to that though?
@Gabe-kv2zs
@Gabe-kv2zs Рік тому
It would require Americans to take a more utilitarian turn IMO. Personally, I don't appreciate being looked at as a 'consumer'. I try to spend more for quality tools and goods, but you are correct. There is a line that is too far for most given the 5 to 1 cost difference. On something like a hoodie, I doubt it would last 5-6 times longer than the overseas cheapo.
@imwithtruthtruth9739
@imwithtruthtruth9739 Рік тому
Or few and fewer pieces of anything really..
@imwithtruthtruth9739
@imwithtruthtruth9739 Рік тому
@@Gabe-kv2zs Don't worry, they won't view you as a consumer.. just a waste of air.. not my words btw.. ask Klaus!
@oraach
@oraach Рік тому
Am thinking it will still cost the same even when imported from outside. A bigger profit margin is what drives outsourcing...
@Ap_twsh
@Ap_twsh Рік тому
automation would help with bringing cost down (if products are made in the US). so that hoodie will eventually cost what it did when it was made in china because of automation.
@louistan7560
@louistan7560 Рік тому
Good to see America re-shoring, cutting dependency and limiting itself to domestic consumption instead of trading with other countries and leaving the rest of the world to trade with each other in local currencies without being subject to US sanctions.
@CrownRider
@CrownRider Рік тому
Our company developed and manufactures products here in the Netherlands. Never thought of moving production to China because it's not efficient at all. Maybe mass production works that way but in the long run it is not worth it. We sell all over the world but we're not selling it out of nationalistic sentiments, but because we want to make the best products for the world.
@paulwolf9387
@paulwolf9387 Рік тому
you are great. no need to buy anything outside of Netherlands. You just do not need to do it.
@evancourtney7746
@evancourtney7746 Рік тому
It was easier for US industries to offshore to China because Long Beach/Los Angles is only 3 weeks sailing from Shanghai. Getting from China to the Netherlands is a longer, more expensive, transit.
@tolazytothinkofanamd2351
@tolazytothinkofanamd2351 Рік тому
Plus China will just copy your designs and long term become your competition and win
@youme1414
@youme1414 Рік тому
@@paulwolf9387 What happens if other countries do the same? Perhaps people don't know how trade works.
@paulwolf9387
@paulwolf9387 Рік тому
@@youme1414 America First, dude
@innovationscode9909
@innovationscode9909 Рік тому
FANTASTIC!!! This research is a priceless Revelation Restore the Manufacturing fortunes of America. We allowed our treasures to be plundered...No more..we are restoring our glory a 100-fold
@DeptalJexus
@DeptalJexus Рік тому
I wish to see good quality "Made in USA" products with fair price on the shelves of every country once again.
@johnc1014
@johnc1014 5 місяців тому
Good quality, yes. But, you'll be paying far more. As for me, I'm all about a total free market. If it's best produced here, great. But, if it's best produced abroad, that's fine too. Problems arise when government seeks to manage and control the economy. You create more inefficiency and bad incentives, resulting in worse outcomes.
@leninicordeiro1578
@leninicordeiro1578 Рік тому
This video completely changed my mind about globalization and free market in an economic perspective! so good and helpful! Great job
@xiuchengmu1849
@xiuchengmu1849 Рік тому
Thank you for admitting your gullibility.
@fernandoribeiro7738
@fernandoribeiro7738 Рік тому
Make América Great Again meant the re-industrialization of América. This colides with the interests of the biggest economic groups. These were the reasons why media made a enormous brain wash against Trump.
@TheNaijaboy007
@TheNaijaboy007 Рік тому
😆😆😆
@michaelr.landon1727
@michaelr.landon1727 Рік тому
Great to see educational and positive-story reporting. It feels so refreshing.
@propertysolutions4773
@propertysolutions4773 Рік тому
Glad to see Usaians finally doing *hard work* rather than hard drugs & opiates
@OneAdam12Adam
@OneAdam12Adam Рік тому
Absolutely
@themaskedman221
@themaskedman221 Рік тому
Too bad it's 30 mins of misinformation.
@propertysolutions4773
@propertysolutions4773 Рік тому
@@themaskedman221 USA in the medium & long term is ageing workers who have not worked for a long time & have collected baggage with divorce,opiates & general laziness-so new investments have to consider these facts
@themaskedman221
@themaskedman221 Рік тому
@@propertysolutions4773 Actually, "new investments" have to consider the costs of protecting a specific class of manufacturing jobs at the expense of the rest of the economy -these jobs are not costless, either in monetary terms or in a competitive sense. And the belief that aging drug addicts are going to find employment at 21st Century manufacturing plants is pure fantasy. Here are some other costs to consider: the more you close your markets to other countries, the less foreign capital you attract. So what do you do when all the foreign direct investment is flowing into other economies? How do you stay competitive, keep business costs down and maintain full employment? Policymakers need to stop listening to populists and start taking advice from economists who actually know what they're talking about.
@bargainfisherman7014
@bargainfisherman7014 Рік тому
Great presentation, I am so proud of USA manufacturing because it brings us to train work skills and establishes a personal pride in products and developments together for the good of all.
@NewCastleIndiana
@NewCastleIndiana Рік тому
Thank you for this reporting. This is such an important topic. America is almost breathing It’s last breath on the world stage because of everyone that has sold out the American worker
@sinterior2626
@sinterior2626 Рік тому
American made hand tools are the best tools ever made. The quality and longevity are second to none, such as Estwing Hammers and Marshalltown trowels. I stocked up over lockdown incase the supply chain to the UK got stopped. Same as others said about T-shirts, great quality. One happy UK customer. Peace
@waynefontaine5533
@waynefontaine5533 Рік тому
Absolutely the best hand tools in the world are Made in the U.S.A., such as Vaugh 99 framing hammers and Fletcher self-lubricanting glass cutters...
@sinterior2626
@sinterior2626 Рік тому
@@waynefontaine5533 Do Vaughn make a titanium hammer aswell
@mainakmandal4275
@mainakmandal4275 Рік тому
German ones are better
@christianlendo7787
@christianlendo7787 Рік тому
@@mainakmandal4275 Not to be ironic but most white Americans have Germanic roots
@chalinosanchez8113
@chalinosanchez8113 4 місяці тому
Operation high jump buddy
@richarddevine8391
@richarddevine8391 Рік тому
"American giving away its own prosperity".... that's it in nutshell. Thank you for this video. More of this please!!
@johnholt2317
@johnholt2317 Рік тому
And as we repatriate/reshore manufacturing, we continue to offshore services elsewhere, primarily India.... professional services, technology and managed services, etc.. Fortune xxx companies that were birthed in the US utilizing infrastructure our predecessors invested, that now are willing to layoff and ship those functions elsewhere at a moment's notice.
@harshamalapati4563
@harshamalapati4563 Рік тому
@@johnholt2317 well as a person from India I can confirm this , unlike China people in India and Indians preferred professional services and most importantly software jobs to that of industrial jobs which costed the economy heavily now slowly and steadily people are showing more interest towards start ups and manufacturing segment due to govt's initiatives such as start up India , Digital India , PLI , Make in India similar to that of made in America and i can sense few early results such as we became 2nd largest mobile manufacturer and 5th largest exporter from nowhere in top 20 prior to these initiatives ultimately it depends on the commitment of the Govt. and willingness of the people to buy the goods produced in their own country to that of others
@jonathancollard3710
@jonathancollard3710 Рік тому
Brilliant documentary….. so pleased to see “the small guy” being represented and recognised as being someone that can and does make things happen as well as a positive agent of change.
@tars7706
@tars7706 Рік тому
Excellent video. We need to revive American Manufacturing.
@redbeam9212
@redbeam9212 Рік тому
Another added benefit, if you have the skills to manufacture locally then you've got the skills to repair and maintain. More expensive, high quality goods made locally - less cheap tat that lasts a few weeks
@thelight3112
@thelight3112 Рік тому
Absolutely. It doesn't matter if your fridge is a bit more expensive, when it's made so that you can repair it and use it for the next 40 years.
@Hal10034
@Hal10034 Рік тому
I still need to see a hard look at the added cost to consumers of place-based economics. We see clothing from China, Vietnam, India, etc., and it's cheaper than it's ever been before. How much more are American consumers willing to pay? From the policies and success of Walmart, they're not willing to pay anything more.
@johnjill4355
@johnjill4355 Рік тому
Quality
@theoeguia3302
@theoeguia3302 Рік тому
People shopping at Walmart are buying cheaper goods and services in order to survive. Inflation is higher than ever and people are willing to buy cheaper Chinese phones and food to survive.
@bbiwyou
@bbiwyou Рік тому
They are not willing to pay more because they are struggling to make ends meet. They are struggling to make ends meet because there are no decent jobs left. There are no decent jobs left because the local factory has been relocated to China. This is basically how Neoliberalism has killed the USA, among other developed countries that were stupid enough to follow.
@youme1414
@youme1414 Рік тому
@@theoeguia3302 iPhone 14 is only made in China as we speak.
@tinaandro1178
@tinaandro1178 Рік тому
There is a problem here that needs to be tackled in my opinion: monopolies.If there is only one or two companies that produces a product then the consumer will be screwed with either collusive prices, lowering quality , etc while not having the option to buy cheaper imported goods.While I fully support this I also think that there will be problems and I have little hope politicians will be up to the task of solving them because they are incentivized to look the other way while the rich profit. I hope they prove me wrong
@garywarren1027
@garywarren1027 5 місяців тому
What we need is a whole lot more Americans thinking about America ! I think a lot of the crime that goes on is there's few places to get a job . We need to restart America again like it was 50 years ago , I sure do miss the good old days .
@bbiwyou
@bbiwyou Рік тому
A really interesting documentary. beyond the main subject of the nearshorization of the industry -which in itself is fascinating-, we rarely have the opportunity to see so closely what a modern cotton mill looks like in the XXIst century, and the massive sophistication of the machines in use today.
@starloszelson4541
@starloszelson4541 Рік тому
Africans pick that card for 246 years for free and never got their 40acres and a mule
@meilinchan7314
@meilinchan7314 Рік тому
All this would not have been possible without the technological developments of the 90s-10s.
@efaoncobbgmailcom
@efaoncobbgmailcom Рік тому
This is terrific journalism. Thank you so much 👏🏾👍🏾🙏🏾
@brunokagawa6287
@brunokagawa6287 Рік тому
America is great when manufacturing returns. Instead of being reliant on other countries, we could now be self-sufficient. This is great for national security as well as the local job market.
@jergervasi3331
@jergervasi3331 11 місяців тому
As soon as I saw the title of this video, I thought of American Giant. I paid $100 for one of their hoodies, their first product, and it's still perfect, years later, after wearing it very frequently for years. And, as someone born and raised in Fall River, MA (a former textile POWERHOUSE in the USA badly hurt socially and economically by globalization), I can testify to this film's points.
@DennisMoore664
@DennisMoore664 Рік тому
With all the technology there aren't really all that many jobs being created. It's a relatively few people running the factory now. The benefit I see is more the ability to build things we need locally instead of relying so much on foreign production.
@victorsaumarez3714
@victorsaumarez3714 Рік тому
Good point. Bringing back industries doesn't necessarily bring back jobs when automation becomes a necessity to compete.
@bbiwyou
@bbiwyou Рік тому
nevertheless, ten factory workers in NC is better than one salesrep in NYC.
@victorsaumarez3714
@victorsaumarez3714 Рік тому
@@bbiwyou Maybe, but you try telling that to a whole community that has lost its jobs. They're going to say you bought our jobs back only to give it to robots.
@blancavelasquez9859
@blancavelasquez9859 Рік тому
automation is the only way we beat and are able to compete with china at manufacturing
@leelilly5700
@leelilly5700 Рік тому
@@blancavelasquez9859 Are you sure that China doesn't deploy automation?
@shakura6476
@shakura6476 Рік тому
So happy to see this point of view. This is what needs to happen. I will support these American companies. I've wanted to see this ever since Bill Clinton signed the injurious NAFTA agreement.
@nielsnijmegen2917
@nielsnijmegen2917 Рік тому
Great video. I hope it encourages politicians and business people to switch to the broader and better sustainable (socially and environmentally) view on the economy away from short term finance only. And it better be quick as the world, not only America, needs it.
@louistan7560
@louistan7560 Рік тому
Yes, America should build everything it needs and not buy from anywhere. An absolutely excellent idea.
@davidnyc487
@davidnyc487 Рік тому
It’s greedy manufacturers and company shareholders that’s driving companies overseas.
@tepidtuna7450
@tepidtuna7450 Рік тому
So don't buy cheap foreign made products. 🙂
@jonathanpuigvert7468
@jonathanpuigvert7468 Рік тому
Very interesting series of videos from FT. Thank you!
@mauricedella-savia3273
@mauricedella-savia3273 2 місяці тому
This is great it’s about time to bring our skills home again. I’m Canadian and I totally agree that we need to bring our jobs and skills back home, for our sake and our communities.
@Tmb1112
@Tmb1112 9 місяців тому
Really like this! Hope the American manufacturing recovers over the next few decades to what it once was.
@philipb2134
@philipb2134 Рік тому
Cotton is comfortable. It is even more comfortable if it feeds a family in Bangladesh.
@MayorMcC666
@MayorMcC666 Рік тому
picking textiles as the example for the video makes a lot of sense with the Xinjiang counter-example, great video.
@Grockrobin
@Grockrobin Рік тому
Such a wonderful thing that manufacturing jobs are returning to the US and the West! ❤
@cwbh10
@cwbh10 5 місяців тому
The well spoken presenter really makes this film a joy to watch and feel oh-so professional
@avisitorhere
@avisitorhere Рік тому
Great video on producing $40 t-shirts and $130 bluejeans right here in the USA. We can make any great thing right here in America, so long as its a niche. We just don't mass produce very well unless its almost entirely done by automation.
@ctgottapee
@ctgottapee Рік тому
Exactly.
@A_Derpy_NINJA
@A_Derpy_NINJA Рік тому
Already paying $100 for jeans, $50 for shirts, and $100 for shoes all made in China or Vietnam or India.
@Ap_twsh
@Ap_twsh Рік тому
So, americans cant mass produce without automation? So clearly the answer is automating. pretty simple answer.
@gambaridup
@gambaridup Рік тому
@@A_Derpy_NINJA the production cost in Vietnam, China, Indonesia etc was around 10-20% of the selling price in US the logistic cost by the sea max 4% - the rest is for marketing cost, warehousing and profit for brand owner in the US.
@jodyhunt4001
@jodyhunt4001 Рік тому
i would GLADLY pay 40 for a shirt and 130 for jeans that don't fall apart after the first wash.....my god if they make it a month it was worth it. the cheap labor produces cheap products and you are buying over and over....pissing money away. i would rather spend more for one purchase that lasts (if taken care of and maintained) than to continue to piss my money away on garbage.
@jacobr5627
@jacobr5627 Рік тому
My concern is that most of the new manufacturing jobs are non-union and in the South so they only end up adding jobs to one region and with those low wages, you might as well as be working at a more dangerous version of Walmart.
@simonburns1799
@simonburns1799 4 місяці тому
Rana, Thank you for your invaluable contribution to this vital issue of "homecoming". Your balanced study of every element of the issue is so important. All of us - politicians, boards, investors, employees and teachers have a part to play in returning our countries to the economic standing that our forebears fought so hard for. Thank you.
@pranavmanie1479
@pranavmanie1479 5 днів тому
this is an excellent, excellent video. would be great to see the US get its industrial glory back after decades of neoliberal policies.
@davidrogge4153
@davidrogge4153 Рік тому
Thank you for the very good video, I liked it a lot. However, being from a high income European country, that still retains most of it's manufacturing jobs (Germany), the question in my opinion should not be: Globalization vs local prosperity, but rather: How can we enable the local prosperity through globalization. Because in the end, this is the model Germany persued. The country has a lot of small and medium sized "hidden champions", that have their niche in manufacturing, but also big car companies and machine making companies and all of those massively profited from globalization, by outsourcing the part of the production process, that was not profitable in Germany, but keeping the value adding stuff in the country. The main things are three-fold in my opinion: 1. having a product, made in the USA, that people globally would like to buy (e.g. Caterpillar, Weber Grills etc.) and 2. valueing manufactured goods locally. As an example: most of my kitchen appliances and general machines in the house are from German brands and also made in Germany and that is the case for many homes here. 3. sharing the prosperity inside the country and not have winner-takes all regions. The disparity between apalachia and the Silicon Valley for example would be bridged by tax transfers in most European countries for example. With the downside of course, that a European Silicon Valley would be less profitable due to these transfers.
@pokerpaul1000
@pokerpaul1000 Рік тому
germany is successful, because i think germans care more for each other. americans only think of themselves. thats why half of the us does not earn a decent wage. please tell me if i am wrong
@ivanhoe6145
@ivanhoe6145 Рік тому
Made in America always sounded good to me. Hopefully, this will indeed lead to better jobs and wages for the workforce in general.
@nicolaebulgaru
@nicolaebulgaru Рік тому
Congratulations Rana. Real debate about real problems. That is real journalism.
@multigameswithryan9215
@multigameswithryan9215 Рік тому
Glad to see that we are bring manufacturing back home
@perplexityvideo
@perplexityvideo Рік тому
Interesting to see the long term trends of manufacturing on display in this video. Really well done!
@ekesandras1481
@ekesandras1481 Рік тому
The last product I bought here in Europe of which I can remember that it had the label "Made in USA" on it, was a Western Digital hard disk some 15 years ago.
@paulwolf9387
@paulwolf9387 Рік тому
shame on you
@summerbreeze50
@summerbreeze50 Рік тому
Well, most of the stuff you use everyday, even they are made in the US, the raw material, the chips inside, machines to make them, or the software run in them, are very likely made in the US.
@paulwolf9387
@paulwolf9387 Рік тому
@@summerbreeze50 it is strange then that machines in the video above were made by Germans or Swiss
@ASK-ko9qx
@ASK-ko9qx Рік тому
@@paulwolf9387 lol yes you're correct.
@Western_Decline
@Western_Decline Рік тому
@@paulwolf9387 machines kill jobs too
@BCSTS
@BCSTS 2 місяці тому
So great to hear these success stories...Thank you !
@pdxeddie1111
@pdxeddie1111 2 місяці тому
it's nice to see some optimism growing into the country
@30xi84
@30xi84 Рік тому
Note the rising use of Automation. (L)abor is being replaced by (K)apital.
@hankmoody7521
@hankmoody7521 Рік тому
I something wonder, is anybody on the left or the right in the US still checking unemployment numbers? And is anybody still willing to tell US folks, they'll most likely have to endure a decade of high inflation going forward with a labor market in short supply and raising import barriers... labor productivity is flat for years not only in the US but also Europe. There is also the demographic transition.. There won't be a post-globalisation world - production will only look for even more cheap labor markets compared to China like SEA.
@rousemotorsport
@rousemotorsport Рік тому
What a wonderful film. It is all coming back and America will be better as a result.
@NicheID
@NicheID Рік тому
This is such an critical subject that is well presented. Perhaps every American company that is producing consumer goods & services should watch this. This is like a blueprint . I even believe this should be part of classroom curriculum to teach the next generation the importance of Made In America is about self preservation.
@carlthor91
@carlthor91 Рік тому
Have you looked at how much construction is going on lately, reshoring of production, has been going on for a while.
@Anon-te6uq
@Anon-te6uq Рік тому
As someone who worked in american manufacturing, this will never happen. There is waaaay to much labor in most industries to make it profitable. Maybe with human level AI or something but not before that.
@Coillcara
@Coillcara Рік тому
It may happen if the free trade is abandoned. Then you can force people in the US to buy expensive locally manufactured goods by imposing huge tariffs. But then the consequences would be unpredictable, for example with other countries switching themselves off the US dollar.
@pinchevulpes
@pinchevulpes Рік тому
@@Coillcara what will they switch it too? The ruble the yuan?
@Coillcara
@Coillcara Рік тому
@@pinchevulpes euro is the only real choice.
@pinchevulpes
@pinchevulpes Рік тому
@@Coillcara Europe with 0 demographic or buying power and is dependent on Russia for energy yeah sure lol
@universeexplorer946
@universeexplorer946 Рік тому
Love ❤️❤️❤️ and respect for a new resurgence of US economy after post globalization.... Shobhan roy from Bangladesh.. Working as a Nurse.....
@gordondyer1
@gordondyer1 Рік тому
Most encouraging story I've heard in 25 years! Thank you
@jw6487
@jw6487 Рік тому
Thanks ft crew for bringing some optimism
@pranavtrivedi5832
@pranavtrivedi5832 Рік тому
Fantastic watch and a very pertinent topic. Very well made film team FT !
@blessedkelechi1312
@blessedkelechi1312 Рік тому
I love seeing made in the U.S. products. Nice one.
@georgemann5009
@georgemann5009 Рік тому
Great Info ! Thank you . I live in S.C. I'm looking forward to the growth we are about to experience!
@abdulkhalidabdulmukti8861
@abdulkhalidabdulmukti8861 Рік тому
Great insight & different angle and perspective . Tq2 FT😄🙏
@luxivation
@luxivation Рік тому
The Financial Times have been putting out some really great content recently and this was no exception. It was as uplifting as it was insightful, thanks for posting.
@KK-dg5rr
@KK-dg5rr Рік тому
Yes finally, come on America. Manufacture more products, you can do it!
@breakthrow20XX
@breakthrow20XX Рік тому
I am just starting to go into Manufacturing here in South Africa as a South African and I am learning from your documentary. Thank you
@Isimud
@Isimud Рік тому
How do you want to bring back manufacturing if there are no workers left to do it? In all western countries there is a lack of people willing and able to do manual work in production and maintenance.
@MrLukealbanese
@MrLukealbanese Рік тому
@@andrewestbrook4473 got it
@crush9197
@crush9197 Рік тому
Good wages and yearly raises. I want to quit my manufacturing job every year but then I remember the yearly raises and I’m like naw I can’t go back to lower pay by starting over at another company at the bottom. Once I’m 45 currently 25. I’ll be making 42.20 an hour. Started at 21 and currently at 27 an hour almost 2 years in manufacturing.
@sampotter4455
@sampotter4455 Рік тому
Great documentary. I could not agree more!
@AnonYoutubeAccount1
@AnonYoutubeAccount1 Рік тому
Fantastic documentary. An informative and non-political discussion about addressing real problems to help people live better and more fulfilling lives. Maybe legacy media is not dead.
@JR-bj3uf
@JR-bj3uf Рік тому
I was very interested in the cotton gin. Both my dad and my grandfather worked for Murry Gin Company back in the 50s and 60s building cotton gins. I am sure they are much more automated now.
@murdelabop
@murdelabop Рік тому
From a geopolitical standpoint, the US pulling out of the TPP was the stupidest possible decision. We could have used the TPP to counter Chinese influence in AIPAC. As it is, our pulling out left a power vacuum, into which stepped China. Regionalization can be a good thing, but isolationism isn't. As this film points out, financialization is never a good thing, and is just another method for Wall Street to hollow out the economy for their own short term profit.
@tdm8722
@tdm8722 Рік тому
Interesting... the cotton gin lady could have insured herself against variation in cotton production (and hence price) by using the methods of financialisation- she could have bought a forward contract for delivery so she would lock in her price and guarantee a return for her capital (the investment in the machine). Instead, she is going "naked' and relying on a good cotton price for making money on- some years she will do okay and others she won't, because she hasn't insured her supply contracts. This seems like a problem financialisation could have solved.
@johnz3535
@johnz3535 Рік тому
That is just not true. The solution to too much outsourcing to China can't be outsourcing more to South East Asia.
@Sokrabiades
@Sokrabiades Рік тому
China has lost tons of influence in Asia-Pacific in the last five years.
@ASK-ko9qx
@ASK-ko9qx Рік тому
@@Sokrabiades you must be on drugs.
@ihl0700677525
@ihl0700677525 Рік тому
Some of the countries in TPP are also signing up for Chinese "Belt and Road Initiative" (i.e. Chinese TPP), they are just playing the two sides for their own benefit. Well.. in the end it always back to cost-benefit analysis, and I think American ruling elites now believe that the benefit of globalization is no longer worth the cost, and I tend to agree with that.
@donviajero2580
@donviajero2580 Рік тому
I live in Central America and the amount of foreign investment coming into the region over the past couple of years has been almost unprecedented, mostly due to companies bringing back manufacturing from Asia to nearby locations where they can be better integrated into US supply chains, creating jobs both down here and in the US. Whether its textiles and other labor intensive goods in northern Central America (as mentioned in this video), or computer chips and more technological goods to Costa Rica, it has allowed these economies some hope of recovery from COVID. But these are small countries and while the amount of investment is very significant to local economies, its a drop in the bucket that is barely noticed by China, Vietnam and other Asian economies. Biden's policies have certainly contributed to this onshoring and nearshoring of manufacturing, but I don't see the US dependence on Chinese manufacturing ending any time soon. It's going to be a long process.
@mike216ism
@mike216ism Рік тому
Excellent video. Very interesting times. I'm a maintenance tech in the food industry. There always looking for people at work. There's going to be massive labor inflation with all the boomers retiring. I feel I could work anywhere and have been heavily recruited. My sector really needs a boost. All of my coworkers are older than me and close to retirement. The trades need to come back and fast. It's a very rewarding job that pays well. I don't know why the younger generations aren't interested. Hopefully us Americans get are house in order. Whatever politicians thought a service economy was a good idea are crazy
@charliesomoza5918
@charliesomoza5918 Рік тому
Stunning! Thanks very much! Best wishes for all of you hard working people with dreams.We can make it! Greatings from Madrid.
@HettesKvek
@HettesKvek Рік тому
A Capitalist When They Are Winning: "Free trade good!" A Capitalist When They Are Losing: "Free trade bad!"
@luisdominguez2087
@luisdominguez2087 Рік тому
i like your comment, is what one thinks intuitively, but the truth is that gained and continue to gain through financial capitalism which is reproducing insanely thanks to Chinese workers work. Capital has found its golden eggs goose in China but to the demise of the workers thereby also weakening evolved economies in the long term. It seems to me they perceived that great finances arent always the best thing as its hurting their social fabric. US, France UK (maybe germany a bit less) are weakened now due to their immense amounts of money coming from the world buy their workers left to do nothing at home.
@quippy8402
@quippy8402 Рік тому
There are two huge problems that were not addresses in this video: (1) Being competitive in exports, when the other countries had learnt from how America has globalized trades and do manufacturing in countries with cheap labors, and (2) The culture of vulture style Capitalism in this country and the fact that our system favors corporations with deep pocket (e.g. the existence of lobbying for law changes, Citizen United vs FEC ruling, etc.). Big public companies do not even treat its employees or even in these days its customers well. They only care about making more money for its executives and shareholders. How to deal with these two problems soundly are the key to success for moving manufacturing back to the country.
@bargainfisherman7014
@bargainfisherman7014 Рік тому
There is a large enough market domestically to substantiate a good product, the problems that manufacturers face is all the regulations ( to many to mention here) to be competitive, and no one cares about all that when they are price shopping.
@BCSTS
@BCSTS 2 місяці тому
I am so impressed with your work here ! The perspective is so very important !
@jannafertsman1140
@jannafertsman1140 Рік тому
I am so glad that America finally got up from the long weighted sleep. The giant is up, watch out the world! Go America go! I can’t wait to see again Made in America 🇺🇸
@thirsty4knowledge200
@thirsty4knowledge200 Рік тому
Is there a website that lists all products that are fully made in USA??
@odenaryanyiiuka902
@odenaryanyiiuka902 Рік тому
Localized economies are good for all sovereign countries. The challenge is need for export of the excess produce. This brings about globalization. The competition in global markets and 'free economy' mechanisms lead to loss of jobs in some countries and gains are made elsewhere. The it goes all back in a circle. Its important to match production and local market demand. Follow the tech war happening now, it will be a full circle 30 years later due to lack of enough local market.
@jhoodfysh
@jhoodfysh Рік тому
An excellent production. The reporting and interviews were superb, as are most Financial Times productions I have viewed.
@amoskorir8764
@amoskorir8764 3 місяці тому
Masterpiece..🎉
@cratecruncher6687
@cratecruncher6687 Рік тому
Nice review. The graphics projected onto physical objects was really sharp and polished. I lean left and it pains me knowing Clinton got us here and Trump was the first one to do something about it with all of his angry rhetoric and targeted tariffs. Biden is keeping the the pressure up too. US Fed Funds was essentially 0.25% from 2000 to 2016 reflecting the anemic growth as a result of "globalization" and a central bank worried about "deflation". Now the FF rate is climbing to 3.75% and beyond. Perhaps we are returning to a pre-globalization economy with 5% Fed Funds rate a normal level again to keep inflation at 2%.
@bbiwyou
@bbiwyou Рік тому
It is also my case, i was so disappointed to learn that Clinton passes for the gravedigger in chief of the US manufacturing industries. What surprises me is that in Europe - where I live - Neo-liberalism is clearly a Right-wing doctrine, while protectionism, and the protection of local jobs is a theme sponsored by the Left political movements. This makes me wonder about the influence of the epoque/era on the political acts that led to the globalization of the economy. rather than Clinton's, was globalization the consequence of the era of the post-communist detente and its blissful optimism in an eternal World peace ?
@cratecruncher6687
@cratecruncher6687 Рік тому
@@bbiwyou I believe US corporate interests started it by lobbying for opening up Asia. "Free Trade" was emphasized making tariffs and other protections out to be old fashioned and backward. This would allow US based manufacturers to make their stuff at Third World input prices and sell the same goods in the First World at a huge profit. The US political spectrum was far less polarized in the nineties. Clinton was able to scoop up a lot of the middle by appealing to business interests and other moderate conservatives by pushing for China to be in the WTO. I still remember the pitch for FREE TRADE. "They'll sell us goods they're good at, and visa versa." It was that visa versa we should have been asking about. The only cargo returning to China was dunnage(cardboard boxes for recycling). All those deals were like a one-way valve letting all the shared prosperity out of our economy and further concentrating our nation's wealth.
@propertysolutions4773
@propertysolutions4773 Рік тому
Your USA used the US dollar like how drones are used today & hard work was replaced by hard drugs, opiates & credit cards & the end of world Trade is going to be the end of *cheap money, inflation* and hey that is happening in 2022 already
@Gabe-kv2zs
@Gabe-kv2zs Рік тому
@@cratecruncher6687 Agreed. Not to mention the IP theft that has damaged us in ways we have yet to feel.
@harveygoheen8771
@harveygoheen8771 Рік тому
It started before Clinton. The whole shareholder value paradigm is probably more attributable to Milton Friedman and the Chicago School of Economics, Clinton simply jumped aboard after the pro-labor faction of the Democratic Party became extinct. BTW Nafta was largely negotiated by Bush 1 and simply completed and signed when Clinton was in office.
@reginaerekson9139
@reginaerekson9139 Рік тому
Before we get too excited about minimum wage manufacturing jobs and water intensive cotton (although I love it) should we consider how long those jobs are even needed and when is robotics going mainstream (not just Amazon)? Also, sportswear patterns could be refined and what about being a textile producer and have independent designers? Hemp could be an alternative. The synthetic non biodegradable clothes are a huge problem!
@reginaerekson9139
@reginaerekson9139 Рік тому
@@user-nu1vn3yy9s hemp seems like a great option.
@johndominici7591
@johndominici7591 Рік тому
This is an excellent video! Very well produced, love the motion-tracked text and figures.
@shmookins
@shmookins Рік тому
Very educational. Thank you kindly for such good content and reporting. I would love to also learn about the actual innovation and brilliance behind the making of these miraculous machines that work so fast and are highly specialized. I also watch videos of "How It's Made" for this reason. Human ingenuity is such an amazing thing. For example, in this video where he man says the cotton machines takes a little bit off the top to insure the blending happens, my immediate question is "how does it know and how does it actually do that exactly?!". Humans are awesome. :)
@delenegillen539
@delenegillen539 Рік тому
A very truthful valuable documentary. Thanks for making this!
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