Manufacturing in America, post-globalisation| FT Film

Financial Times
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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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23 Mar 2023



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Comentários 1 812
Casto Velazquez
Casto Velazquez 3 meses atrás
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
Peace Leader
Peace Leader Mês atrás
The American solution is fully automated and introducing universal basic income.. UBI.. that would solve everything.. hmmmm.. a first step for my communism reality.. hmmmm..😊
Glenn James
Glenn James Mês atrás
@Charles Wolff Yeah, moving our means s of
SnortTroll Mês atrás
production of whatever.
The Masked Man
The Masked Man Mês atrás
@lookoutforchris And what stereotype would that be? If BRvid were an economics classroom, this video is the dunce table.
William Richard
William Richard 24 dias atrás
Heard someone say the best season for a financial breakthrough is now, especially with inflation running at a four-decade high. I have approximately $750k stagnant in my portfolio that needs growth. What is the best way to take advantage of this downturn?
Charlotte Flair
Charlotte Flair 24 dias atrás
@Lucas Williams Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Lucas Williams
Lucas Williams 24 dias atrás
@Exxon Mobil Company I invested with Julie Anne Hoover a widely known consultant. You can make a quick internet research with her name mentioned where you can easily get in touch..
Exxon Mobil Company
Exxon Mobil Company 24 dias atrás
@Mark George True, we’re only just an information away from amassing wealth, I know alto of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
Acousticmarine 3 meses atrás
Great video. I'm 62, a Marine Veteran, and semi retired Maintenance Electrician. After 12 years as an Electronic Technician in the Marine Corps, I left the service and went back to the midwest where I grew up. I soon discovered manufacturing and the different jobs it provided. I started out running machines, but wanted to be the guy who built and maintained these interesting man made tools. As manufacturing returns to the U.S., we need to celebrate these jobs so our youth want to be part of making products we need and appreciate in our society. We seen how COVID heightened our awareness of Truck Drivers, Grocery store workers, Farmers, and many other sectors in our society that are truly important to our everyday existence and happiness. I love buying quality made American products. If I can't afford the purchase, I will save up before buying some cheap knockoff made China. America developed a bad habit of buying cheap, throw away products, I hope to see this behavior end, I think it already has.
LOL-Yolo Mês atrás
What I am trying to say, not everything made in Japan is good quality.
Jorge Arenas
Jorge Arenas Mês atrás
As Mexican I understand the importance of a national industrial base, based in each country economical advantages and economic security.
darthvader5300 Mês atrás
@basil magnanimous I can still remember what my granduncle once used to tell me about a machinist in the 1960s in an oil company in the field and every time there is a problem he can literally check what the problem is and he can fix it by using his complete machine tool shop to make the component parts WITHOUT THE OIL COMPANY ORDERING AN ANOTHER PART which will take too much time and all of the materials used by him are of the highest quality MADE-IN-AMERICA steel and iron alloys. No CNC machine tools, no computers, to robots, just tons of brain power and tons of manual measuring devices, manual gadgets and templates and manual devices and manual machine tools of all of the basic 5 types of machine tools which is the lathe, drill press, metal planer, milling machine, bending machines, and the heat treatment furnace. And that all of the components he made are still running in good condition. If I can remember it right, that machinist is already in his mid-90s, retired of course. But he is often visited by younger machinists for advice on how to fix and make a difficult component. That is to show you that only the oldest generation has the knowledge to re-industrialize America but as for the present young generation they need to go back to school!
darthvader5300 3 meses atrás
@LOL-Yolo I will believe this "Manufacturing In America" if they can start manufacturing machine tools by using the same machine tools and that it is fully integrated and synergistically interconnected with all supporting factories, starting from the RAW EARTH mined from American soil to the finished product at the end. AND DESIGNED AND BUILT TO LAST!
Mauricio Osorio
Mauricio Osorio 3 meses atrás
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.
hello 2 meses atrás
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
John Gibson
John Gibson 3 meses atrás
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?
Jon Beltrano
Jon Beltrano Mês atrás
This storyline is brilliant. Capturing the entire process from crop to manufacturing was a great idea.
Javi Diaz
Javi Diaz 3 meses atrás
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".
John D
John D 3 meses atrás
@nigel lei That t-shirt fell apart because it was made of slave cotton by labor law-less seamstresses working 20-hour shifts though. Globalization is why I've had to get better at repairing my own clothes.
The Masked Man
The Masked Man 3 meses atrás
@Joel C Better quality, cheaper. People don't seem to mind paying more money for inferior goods Made in the US until it comes time to shop. The psychology here is interesting because while most people on some level recognize that more competition is better for markets, when it comes to international trade they defy that logic and opt for anti-competitive policies like "reshoring" and "buy local". Anyone who wants to observe the effects of economic isolation need only look to places like North Korea and Russia for a crash course. The US will be headed down a similar road some time this century if policymakers continue this trajectory.
Joel C
Joel C 3 meses atrás
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.
nigel lei
nigel lei 3 meses atrás
Globalization makes stuff cheaper. like $200 for a 40 inch hdtv. $1.50 for a white t-shirt. cant do that if no globalization,
Mei Lin Chan
Mei Lin Chan 3 meses atrás
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.
Patty Hsieh
Patty Hsieh 4 meses atrás
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
Chavdar Naidenov
Chavdar Naidenov Mês atrás
Smith and Ricardo didn't even mention the steam engine. They had no place in their theories for the Industrial Revolution. They didn't notice the greatest event in 10 thousand years of economic history - Man emancipated himself from Nature. Their argumentation was basically a logically linked list of talking points used by the trade class in England against the landowner class. The fight was about whether to import grain or not. It's absurd to directly implement these antiquated theories to solve economic problems in the 20th or 21st century. Even Alexander Hamilton and Friedrich List of the 18th-19th century are more of use than primitive free traders.
The Masked Man
The Masked Man 3 meses atrás
@Martcapt What's actually overlooked in popular discourse is that the Ricardian rule originally applied to two countries producing two different goods, where labor and capital were immobile (Ricardo assumed labor could freely shift domestically, but not across national borders). But economists have moved well beyond a basic two country or bilateral model of comparative advantage. Today Ricardo's principle is assumed to operate not just between two countries trading different products, but within the products themselves. In this respect we can say that the US has a comparative advantage in i-phone *technology,* and China has a comparative advantage in i-phone *assembly.* Same product but produced in different stages with different ends of the supply chain specializing in different tasks. And this is actually true and is how comparative advantage operates within global supply chains -and yes it works, and yes Ricardo's logic of specialization and trade was sound but merely incomplete. It is obvious the OP hasn't been properly taught this subject, or failed to absorb what she was taught.
Martcapt 3 meses atrás
If you learned those theories correctly, even in them it's painfully clear that a balance where both sides win is very hard. For some reason that seems to have been overlooked in popular discourse and even some subpar courses
Motorhead1 3 meses atrás
@The Masked Man ps Wall mart hiring go apply
Motorhead1 3 meses atrás
@The Masked Man ok kid
Joe Bullwinkle
Joe Bullwinkle 3 meses atrás
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.
Daxtyn Minn
Daxtyn Minn Mês atrás
@Krac3x ! I wouldn't go that far. But the debt issue is not even that bad in the USA. The Chinese, Japanese, and Greeks have much worse governent debt issues than the US.
Krac3x !
Krac3x ! Mês atrás
@Daxtyn Minn yeah you´re right constantly increasing the debt limit and printing trillions of dollars is nothing serious, it´s a completely economically viable solution in the long run
Daxtyn Minn
Daxtyn Minn Mês atrás
@Krac3x ! the national debt doesn’t really mean anything it’s mostly just for show. We have never defaulted on debts in our history.
Krac3x !
Krac3x ! Mês atrás
@Daxtyn Minn but the only reason you are doing ok is because you print money like it´s unlimited, you are so much in debt like over 31T dollars and you keep printing without stop
John Cronin
John Cronin 2 meses atrás
We need industry , manufacturing
Raymond Suplee
Raymond Suplee 2 meses atrás
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.
John L
John L Mês atrás
@Steven Hayden Exactly what I did. I now have 0 debt. Not that that is a guarantee. Things could blow up in some way in the future, but at least for now, it is a huge load off my mind. Living beyond one's means is reckless and stressful.
Gurpreet Singh
Gurpreet Singh Mês atrás
If you visit other asian countries you would feel like rich.
Rob P.
Rob P. Mês atrás
We’re about same age I’m 64 and I agree with everything you said - This is almost worse than 1974. This economy is about to crash and burn and don’t forget the war which is about to get very real with lots of carnage, the Russians haven’t even started yet.
Gurpreet Singh
Gurpreet Singh 2 meses atrás
You will loose everything if thousands of people come to your country as students after study never goes back specifically girls from punjab they come to study and get green card after some years then she marry boy from punjab to bring him along with boy,s mother father and then she brings her own mother father. Over population ruined India now you are being ruined. And people like us who living here for 3 generations and started export business brought forieng exchange inside states going in vain due to inflation.
E Bay
E Bay 2 meses atrás
Slaves have no rights. We are slaves. Get used to it, we allowed it and we deserve it.
Smallstudio Design
Smallstudio Design 3 meses atrás
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.
JG 4 meses atrás
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.
Dr. T.
Dr. T. Mês atrás
I think you were one of many hoping for improvements. There seems to be a pattern of expand and contract of ideas and concepts, maybe because we don't include the human abuse factors into generally good ideas and economic equations?
Medeli World
Medeli World 2 meses atrás
@hello The US should employ the German model and produce cutting edge products or license IP to other countries.
Medeli World
Medeli World 2 meses atrás
@hello It's a fantasy to move manufacturing back to the US. Just to give you some numbers, China has a workforce of 800 million cheap skilled labor. To set up an iPhone supply chain would require one million skilled labor and USD1 trillion.
hello 2 meses atrás
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.
Peter Santenello
Peter Santenello 3 meses atrás
Fantastic video!
Pete G
Pete G 3 meses atrás
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.
bbiwyou 4 meses atrás
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.
Mei Lin Chan
Mei Lin Chan 3 meses atrás
All this would not have been possible without the technological developments of the 90s-10s.
Starlos Zelson
Starlos Zelson 3 meses atrás
Africans pick that card for 246 years for free and never got their 40acres and a mule
kyer White
kyer White 3 meses atrás
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.
The Magic Wheelies
The Magic Wheelies 3 meses atrás
Us, canada, and Mexico must stick together and demand fair trade. We are so strong as the North American Three Amigos. Keeping it in our continent. Absolutely trade with the world but demand equality in Trade Practices.
Peter Lai
Peter Lai 3 meses atrás
Do you mean Cambridge?
Trash Channel
Trash Channel 3 meses atrás
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.
Joel C
Joel C 3 meses atrás
Coal from South America is more green compared to other countries.
Mjolnir G.
Mjolnir G. 3 meses atrás
There is a good documentary about globalization on Netflix. An old GM plant in Dayton Ohio was purchased by a Chinese company.
Baby Boy
Baby Boy 3 meses atrás
❤ 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.
Rolly Balondo
Rolly Balondo 3 meses atrás
definitely better than Levis made in China now.
Māhāmeghabahāna 3 meses atrás
Least western worshipping penoy.
Glenn W
Glenn W 3 meses atrás
anthony tran
anthony tran 3 meses atrás
Now Made in the Philippines (only bananas products exported to China).
Trialation Dev
Trialation Dev 2 meses atrás
I wish to see good quality "Made in USA" products with fair price on the shelves of every country once again.
CH34TC0D3 Gaming
CH34TC0D3 Gaming 2 meses atrás
Thank you @FT for the depth of analysis and production in bringing such a complex conversation and making it digestible for your YT audience. This was very enlightening and entertaining. Fantastic work.
Louis Tan
Louis Tan 3 meses atrás
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.
Duncan Williamson
Duncan Williamson 3 meses atrás
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!
Medeli World
Medeli World 3 meses atrás
@K Shen Yup
K Shen
K Shen 3 meses atrás
@Medeli World The divide between the rich and the poor has brought a populist wave in America. What is populism? One of the definitions or manifestations is that a large number of ordinary people feel that those elites on the top are all the “bad apples”.
Medeli World
Medeli World 3 meses atrás
@K Shen Only time will tell.
Medeli World
Medeli World 3 meses atrás
@nocrtname Only time will tell.
K Shen
K Shen 3 meses atrás
@Medeli World Sorry, “Made in USA” wouldn’t mainly depend on China or it wouldn’t be decided by the “Chinaman”, neither American government. It is your Western capitalists, who are not willing to do so, unless you have strong willingness to drop your salary “voluntarily”. Congras, you had a very beautiful dream. Once you lost it, you couldn’t get it back again. That is the reality of the manufacture supply chains in the world. People’s “greediness” for the higher wage is totally contradicted by the greediness of your capitalism system and capitalists. Your dream couldn’t “come true” unless the most western capitalists are also political brainwashed and become naive or radicals.
TJ Sells
TJ Sells 3 meses atrás
As a younger generation gives me hope for my country 🎉
Moving Without Limits
Moving Without Limits 3 meses atrás
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?
Felipe Accioly
Felipe Accioly Mês atrás
@ImWithTruth Truth Klaus Shwabe? The moster?
Riley Patterson
Riley Patterson 2 meses atrás
@oraach william That's the problem I think. They want to maintain the slave labor profit margin!
Riley Patterson
Riley Patterson 2 meses atrás
The problem is that the foreign made sweatshirts last just as long. Really hard to justify the purchase, but I always make an effort to avoid made in China. Globalization would be better if 22% of it wasn't in China. We should bring the vital goods back to the US and we should steer away from getting goods from China.
Backup 001
Backup 001 2 meses atrás
I think the way to look at it is overall wages shall need to go down so that companies will be forced to reduce prices of goods to 'Real' prices. Too long has US printed money and distributed it, so a $1 bread piece can be sold at double or triple i.e. $2 or $3 even because there are people "willing" to buy it as Warren said in 2022 AGM: "this is the first time I have seen in my life that despite increasing prices, there has been no cutback on consumption by people". Basically, there is a lack of Thriftness in today's world at most places.
Leih Tory
Leih Tory 3 meses atrás
@Alice Doe the deal is. They buy mostly American products, In turn they can manufacture those american products. For ever dollar America makes, they make cents. What a trade indeed. now your coming for their share of cents. your coming for their bread crumbs. the whole pie wasn't enough for you.
Perplexity 4 meses atrás
Interesting to see the long term trends of manufacturing on display in this video. Really well done!
Luxivation 3 meses atrás
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.
Lenini Cordeiro
Lenini Cordeiro 4 meses atrás
This video completely changed my mind about globalization and free market in an economic perspective! so good and helpful! Great job
Bond 007
Bond 007 3 meses atrás
Xiucheng Mu
Xiucheng Mu 3 meses atrás
Thank you for admitting your gullibility.
Micah Bratt
Micah Bratt 18 dias atrás
This was actually really encouraging and uplifting
BCSTS 3 meses atrás
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!
Eric Haist
Eric Haist 3 meses atrás
This is amazing and exciting! I agree - regionalization and locally sourced/produced goods and services are the key to a revitalization of American society. We cannot continue to live in this pseudo-globalization mist any more - globalization only serves the few multinational corporations but does little for the common man.
Shadow Heart
Shadow Heart 3 meses atrás
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. :)
Winner's Faith
Winner's Faith 3 meses atrás
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
quippy 3 meses atrás
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.
D T 2 meses atrás
Such a wonderful thing that manufacturing jobs are returning to the US and the West! ❤
Michael De Vere
Michael De Vere Mês atrás
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!
Richard Leddy
Richard Leddy 3 meses atrás
Agreed - from a software programmer, not everyone needs to be a software programmer. But, substitute teaching in high school, I see so much talent from all parts of our native population. Many voice disappointment with the future hope of getting good jobs. Perhaps too much has been concentrated in cities with too much an emphasis on globalization. What we import under its guise might be educated at our peoples' expense, but does not match our talent. Mexicans are smart people, but you don't hear of that in San Jose in the halls of our tech giants. Our dust bowl people are also talented, but how many are fleeing the state I am in, California? Yet, the distribution of populations into micro cities can be enabled (much more than it is currently) by our software. Maybe that would be so if we thought to break monopolies inhabiting our globalized hubs which seem to have been intentionally built. Indeed, there certainly could be a recognizable feed back loop from our high school classrooms to our local automated producers. However, we have to get back to the idea of teaching science as a tool for use in our local automation and production. What is it now? Cartoon books? Shouldn't we be making an effort to have our loftiest science interact at a conversational level with the efforts of our local businesses and with possible hands on experiences for those who may soon take part in enhancing local automation and local productivity? Wouldn't the mixture of all levels of skill constitute the making of a city, albeit smaller and more livable than the ones we have created so far? Wouldn't such small and thriving hubs attract people, in particular those who were born there and raised with pride in their local? (There always seems to be a little done along these lines, maybe even a building or two. But, in general there is not a lot. Lately, I have been concerned over a lack of acculturation with regard to even understanding quantity. I am encouraged that schools now have maker kits. But, still, ask the kids to relate their math to their projects. There's some wide gap.)
A p
A p 3 meses atrás
good points
JR 3 meses atrás
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.
abdullahyo 3 meses atrás
Good documentary! I guess trade, economics and politics are linked very closely. Each one would affect the other. Politicians would always try to find something to gather the masses under their banner and get more votes. Sometimes they would advocate globalization, sometimes they will advocate localization.
Michael R. Landon
Michael R. Landon 4 meses atrás
Great to see educational and positive-story reporting. It feels so refreshing.
Property Solutions
Property Solutions 3 meses atrás
@Millevenon 585 For my business i have physically visited China over 68 times from 1980 until 2015 and i realized that almost *everything they export is at a loss* and in 20-25 yrs from 1990 they would have *no money to be Planet Earth's production country* and once their real estate market imploded -it would be curtains -also most of the CCP members behind Chinese companies have invested their ill gotten gains in real estate in Canada,Australia,NZ ,USA etc
Millevenon 585
Millevenon 585 3 meses atrás
@Property Solutions same for china because its headed for stagnation and lost decades due to its demographics
Property Solutions
Property Solutions 3 meses atrás
@The Masked Man Every country should protect their people & their markets-USA has a 10 years-15 years window before the US Dollar *stops becoming* the currency of world trade -so in my opinion USA would be stupid not to use this one time advantage
The Masked Man
The Masked Man 3 meses atrás
@Property Solutions 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.
Property Solutions
Property Solutions 3 meses atrás
@The Masked Man 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
Jan N.
Jan N. 4 meses atrás
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.
Garden Joy
Garden Joy 3 meses atrás
@godogs89 Then compare it to Asian countries closer. After all, Europe directly borders on Asia over land.
godogs89 3 meses atrás
@Serge London no, trade would have to go through the Suez Canal, then between Yemen and Somalia, and then through the Malacca straight. All of which takes time, adds to the logistics, and is more expensive. Comparing Netherlands to US ease of access to China trade is none sense.
Serge London
Serge London 3 meses atrás
@Evan Courtney isn't there a way by rail because of the belt and road?
Paul Wolf
Paul Wolf 3 meses atrás
@youme1414 America First, dude
youme1414 3 meses atrás
@Paul Wolf What happens if other countries do the same? Perhaps people don't know how trade works.
mike216ism 3 meses atrás
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
Uncle Tony
Uncle Tony 2 meses atrás
Every day we have a new problem. It's the new normal. At first we thought it was a crisis, now we know it's a new normal and we have to adapt. 2023 will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
Believe in good
Believe in good 2 meses atrás
invest in China market
KingDavid 2 meses atrás
@Patricia Martin I did check her out, I see why she's booked up, her creds/resumé is topnotch. I booked a consultation with her regardless.
Patricia Martin
Patricia Martin 2 meses atrás
@KingDavid Sharon covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.
KingDavid 2 meses atrás
@Patricia Martin How can I get in touch with Sharon Louise, what are her services, is she verifiable, do you think she can help me, I live in Canada?
Patricia Martin
Patricia Martin 2 meses atrás
@mayorofsiliconvalley Absolutely, Fiduciary-counselors have exclusive information and data paths that are not disclosed to the public.. I've made north of $260k in raw profits from just Q3 of 2022 under the guidance of my Fiduciary-counselor “SHARON LOUISE COUNT”. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
Bustboi 3 meses atrás
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.
purdue 3 meses atrás
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
David Rogge
David Rogge 3 meses atrás
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.
John Hood-Fysh
John Hood-Fysh 3 meses atrás
An excellent production. The reporting and interviews were superb, as are most Financial Times productions I have viewed.
Wendy 2 meses atrás
I was just on American Giant’s website a couple days ago. I would definitely be willing to pay more for something made here. 😃
Sanjeev Kumar
Sanjeev Kumar 3 meses atrás
Thanks Rana for sharing, great documentary. Couldn't agree more on "Head, Heart and Hand" use in going local!
John Dominici
John Dominici 3 meses atrás
This is an excellent video! Very well produced, love the motion-tracked text and figures.
Conscious Co
Conscious Co 3 meses atrás
My biggest takeaway among many good ones in this video was the difference between private and public companies. I've long known the corporation is basically a psychopath. It's only reason for existence is to make money for shareholders, and that precludes valuing the well-being of employees or the society it is in if doing so would undercut quarterly profits. In contrast, the private company can act with long vision, and include people and communities within the idea of succeeding.
Niche Id
Niche Id 3 meses atrás
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.
Carl Thor
Carl Thor 3 meses atrás
Have you looked at how much construction is going on lately, reshoring of production, has been going on for a while.
avisitorhere 3 meses atrás
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.
Dr. T.
Dr. T. Mês atrás
Maybe less stuff, better quality? Addiction to discounted crap requires a paradigm and thinking shift of the consumer.
JJ I 3 meses atrás
@Jody Hunt Remember when Converse All-stars or Levi 501's lasted for three years of high school?
Jody Hunt
Jody Hunt 3 meses atrás
i would GLADLY pay 40 for a shirt and 130 for jeans that don't fall apart after the first 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.
Jim Bob
Jim Bob 3 meses atrás
@easynameable 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.
Ivanhoe 3 meses atrás
Made in America always sounded good to me. Hopefully, this will indeed lead to better jobs and wages for the workforce in general.
TARS 7 3 meses atrás
Excellent video. We need to revive American Manufacturing.
S Interior
S Interior 3 meses atrás
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
Christian Lendo
Christian Lendo 3 meses atrás
@Mainak Mandal Not to be ironic but most white Americans have Germanic roots
Mainak Mandal
Mainak Mandal 3 meses atrás
German ones are better
S Interior
S Interior 3 meses atrás
@Wayne Fontaine Do Vaughn make a titanium hammer aswell
Wayne Fontaine
Wayne Fontaine 3 meses atrás
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...
l kol
l kol 3 meses atrás
Wow this was actually a really high quality video. Great work thank you!
Sam Potter
Sam Potter 3 meses atrás
Great documentary. I could not agree more!
Azadeh Leila
Azadeh Leila 2 meses atrás
Starting early is the best way of getting ahead to build wealth, investing remains a priority. Even in a downtrend, the stock market/crypto has plenty of opportunities to earn a decent payout, with the right skills and proper understanding of how the market works.
Azadeh Leila
Azadeh Leila 2 meses atrás
@Kalus Gunter jurgen So true, nice to see someone else who knows of MARGARET ANN WARNKEN
ARTHUR LESTER 2 meses atrás
@Azadeh Leila Access to good information is what we investors need to progress financially and generally in life. here's a good one and I am grateful. Found her website and it was really impressive.
ARTHUR LESTER 2 meses atrás
@Azadeh Leila Hey! Please who is this advisor of yours? I guess success really means total knowledge and I hope he/she can help me get back what I lost. Can I have easy access to reach out?
Azadeh Leila
Azadeh Leila 2 meses atrás
@Charlotte Elizabeth You are right
Charlotte Elizabeth
Charlotte Elizabeth 2 meses atrás
Courage taught me: no matter how bad a crisis gets, any sound investment will eventually pay off
Jacob R
Jacob R 3 meses atrás
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.
Sri Ni
Sri Ni 3 meses atrás
Great docu and thank you! Theoretically, Globalization may have worked. Keep aside the unexpected Pandemic, the politics, and justice system is different across the countries which were missed in the globalization concept. Cost is certainly a matter but quality matters. To me buying a table that lasts for generations takes precedence over low quality that I need to buy 10 times from a 3rd world country. As a customer, this adds to the frustration and importantly loss of trust!
Duckman one
Duckman one 3 meses atrás
The countries such as 3rd world or China produce to the customers specifications - if he want high quality which is available then it is priced accordingly but if he wants to sell more at a lower price then the quality is is reduced to fit his needs - and usually that's what his own customers want. Don't put all of the blame on to the manufacturer. If you want a high quality product then don't buy the inferior, lower priced one as your importer will do his best to satisfy any demand if there is one.
Shakura 3 meses atrás
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.
Stephen Joseph
Stephen Joseph 3 meses atrás
Good job FT!!!! Wonderful reporting 👏
Cratecruncher 4 meses atrás
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%.
Cratecruncher 3 meses atrás
@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.
Steve Vess
Steve Vess 2 meses atrás
I worked for the largest producer of polyester textile filament in North America from 1988 until 2006. They were a great company to work for and had above average pay and benefits. Sadly the corporation was very shortsighted and would not reinvest any money back into the business. The factory was started in the late 1950’s and was constantly added on through the 2000’s. The plant eventually had 40 acres und roof and in the early 70’s had over 3000 people that worked there. During the mid 70’s the went down to about 800 employees. The corporation would not reinvest in new equipment, some of the machinery was from the early 60’s. Gradually they started cutting the engineering staff and the maintenance staff ( of which I was a part of) kept the plant running about 5 years longer than it should have. It is very frustrating when you can see the waste all around you but they never tried to cut cost or automate anything until it was too late. We supplied polyester textile filament and had 90 percent of the polyester textile sewing thread business in North America. We were told that part of the reason some of the plant was shut down was because they could buy the same filament over seas cheaper than we could make it. A lot of the equipment was sent to Mexico. I could see the hand writing on the wall and left in 2006. Some people hung in there until the end. They had to find employment at a few of the local companies that were left, they didn’t pay anywhere close to what the company we worked for paid. The entire county I lived in (Cleveland County NC) lost every textile mill except for a couple that hung on, only to close later. People that loose a good manufacturing job and can’t find another simply have to move to a city that has better opportunities.
Sherlock Jones
Sherlock Jones 3 meses atrás
Most encouraging story I've heard in 25 years! Thank you
nicolaebulgaru 3 meses atrás
Congratulations Rana. Real debate about real problems. That is real journalism.
wil_wil Queen
wil_wil Queen 3 meses atrás
The textile industries was around 60-70 miles away from HKG in 90 & 00. At that time we face heavy air pollution and sea pollution here . Starting from 2010 the textile industries moving out ,the air quality and water quality improves a lot till now.
Jaideep Desai
Jaideep Desai Mês atrás
Rana - Part 2 was equally good. If I could make a suggestion, could you add all of these people in you links below then that would be good. Like the complanies and people you interview is what I meant, so we can do some further research on those folks. Thanks again for enlightening us.
Jonathan Puigvert
Jonathan Puigvert 4 meses atrás
Very interesting series of videos from FT. Thank you!
Summer Day
Summer Day 3 meses atrás
I’ll never understand how anyone could be talked in to or believe in advocating against themselves, their children and the country they live in. I’m for home and family first and if there’s any left then I can look out and see where I can help.
Efaon Cobb
Efaon Cobb 4 meses atrás
This is terrific journalism. Thank you so much 👏🏾👍🏾🙏🏾
Bowe Brockman
Bowe Brockman 3 meses atrás
My heart to greater loyalty, My hands to larger service, and my health to better living, for my club, my community, my country, and my world.
Micah Bratt
Micah Bratt 18 dias atrás
Great! It's good to see jobs coming back
Delene Gillen
Delene Gillen 3 meses atrás
A very truthful valuable documentary. Thanks for making this!
San N
San N 3 meses atrás
Very surprised and refreshing to see good videos like this from FT. I completely lost trust in big media like FT.
Uk Porkpie
Uk Porkpie 3 meses atrás
One comment she made about trying to get people to change attitude a bit struck me. There's that story about how the rich person spends less on shoes than the poor person because the rich person can afford better quality shoes that last way longer. Quality has some value in economy, not just in terms of people appearing (not being) superior
MRSketch09 3 meses atrás
Top notch video. Very informative. Wish it were slightly longer. But it makes a pretty solid point.
Researcher in Berlin
Researcher in Berlin 3 meses atrás
But it is not only the supply change can make this work -- the demand side, consumers, need to form a cultural of supporting local brands and local shops -- which we definitely see more in Europe instead of in the U.S.... (or supply side needs to market this idea #supportyourlocalshop to push a wholesome change)
Ekes Andras
Ekes Andras 3 meses atrás
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.
Jacob R
Jacob R 3 meses atrás
What about the Ford Mustang, Buffalo Trace, Moog synthesizers, Boeing planes, Pratt and Whitney engines on Airbus planes, Otis elevators (Used in the Burj Khalifa, Empire State Building & Eiffel Tower), Jack Daniel's & Four Roses? I'm pretty sure those products are still made in the US and being sold in Europe?
Ekes Andras
Ekes Andras 3 meses atrás
@summerbreeze the Chevrolet cars they sell in Europe are made in South Korea, the Motorola phones are made in the People's Republic of China, ...
Sean Owens
Sean Owens 3 meses atrás
@Paul Wolf I think the cotton gin was created and developed in the US. Possibly a variation on this machine you see is German/Swiss?
Kurt Fischer
Kurt Fischer 3 meses atrás
Nice well balanced financially and without political bias! A very refreshing trait, thanks.
Regina Erekson
Regina Erekson 3 meses atrás
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!
Regina Erekson
Regina Erekson 3 meses atrás
@денис баженов hemp seems like a great option.
Ja Fab
Ja Fab 3 meses atrás
This is by far one of the best videos I have seen on BRvid, I have been saying for quite some time now that we the people of the United States of America 🇺🇸 need to make quality item right here in the good old USA 🇺🇸. I firmly believe in the future of Made in USA 🇺🇸. Let’s Make America 🇺🇸 Great. And May God Bless America 🇺🇸
Red Butterfly
Red Butterfly 3 meses atrás
100% agree. I dont mind buying expensive personal items that last.. because im very emotional and got separation anxiety
stephen 3 meses atrás
It has always been painful that the priority has focused so much on a 4 year degree (mostly that are meaningless) and not vocational training acting like those are beneath the American dream.
A p
A p 3 meses atrás
We cant forget the importance of higher education. Yes some degrees are useless but most of those courses in college do help, peoples should also be introduced to trades along side those higher education courses.
Niels Nijmegen
Niels Nijmegen 2 meses atrás
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.
Jacob R
Jacob R 3 meses atrás
I want to see the developing world develop but I think it's better that these countries develop their own brands like what South Korea did with Samsung, Hyundai and LG rather than what China did by making products for Western brands and then shipping these products back to the country where the company is based in to begin with.
murdelabop 4 meses atrás
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.
AS K 3 meses atrás
@Mainak Mandal Too much koolaid for you too ??
Mainak Mandal
Mainak Mandal 3 meses atrás
@AS K no you are
Pranav Trivedi
Pranav Trivedi 4 meses atrás
Fantastic watch and a very pertinent topic. Very well made film team FT !
Oden Aryanyiiuka
Oden Aryanyiiuka 3 meses atrás
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.
Achyuta Krishna
Achyuta Krishna 3 meses atrás
Very thought provoking video, everyone should work hard to make their own country great again..there is no easy or cheap product from china or any other nation..everyone work do.
Michael Paag
Michael Paag 4 meses atrás
This is great, thank you for this very well put together report, inspiring
Nick Haldem
Nick Haldem Mês atrás
So inspiring to me 😊
John Dewey
John Dewey 4 meses atrás
Excellent report, very informative. Thank you.
Charlie Somoza
Charlie Somoza 3 meses atrás
Stunning! Thanks very much! Best wishes for all of you hard working people with dreams.We can make it! Greatings from Madrid.
ilikec 25 dias atrás
Good video. Elaborating on the cost of entry into the US market. All entities selling in the USA should be required to follow identical government rules and regulations. The playing field has to be level. Allowing some countries to bypass environmental or safety regs reduces their operating burden substantially. We can compete as a nation if we all follow similar regulatory loads. On a level playing field, the USA will pull ahead again as we have the best talented ppl.
A 3 meses atrás
Peter Beyer
Peter Beyer 3 meses atrás
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.
PangDrum 3 meses atrás
Paul Wolf
Paul Wolf 3 meses atrás
@nigel lei american production is not cheap, but it is the best
nigel lei
nigel lei 3 meses atrás
did you paid $80 for it?
Paul Wolf
Paul Wolf 3 meses atrás
everyone in the world should buy american
Edward St-Pierre
Edward St-Pierre 3 meses atrás
This is my dream to see that manufacturing as our backbone of society.
Anon 3 meses atrás
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.
Vulpes Incultuh
Vulpes Incultuh 11 dias atrás
@Caracrainn Europe with 0 demographic or buying power and is dependent on Russia for energy yeah sure lol
Caracrainn 12 dias atrás
@Vulpes Incultuh euro is the only real choice.
Vulpes Incultuh
Vulpes Incultuh 12 dias atrás
@Caracrainn what will they switch it too? The ruble the yuan?
Caracrainn 3 meses atrás
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.
Blessed Kelechi
Blessed Kelechi 3 meses atrás
I love seeing made in the U.S. products. Nice one.
LéonKookoo 3 meses atrás
It makes me smile... This should what everyone should be doing...
Pretty Mom
Pretty Mom 3 meses atrás
I visited Eagle sportswear before Covid, 2/3 of their building was empty, lots of idling equipments, about 50 workers only.
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