Manufacturing in America, post-globalisation| FT Film

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

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?

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.

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.

This storyline is brilliant. Capturing the entire process from crop to manufacturing was a great idea.

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".

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

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.

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.

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.

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.

Fantastic video!

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.

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.

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.

❤ 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.

I wish to see good quality "Made in USA" products with fair price on the shelves of every country once again.

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.

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.

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!

As a younger generation gives me hope for my country 🎉

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?

Interesting to see the long term trends of manufacturing on display in this video. Really well done!

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.

This video completely changed my mind about globalization and free market in an economic perspective! so good and helpful! Great job

This was actually really encouraging and uplifting

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!

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.

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. :)

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

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.

Such a wonderful thing that manufacturing jobs are returning to the US and the West! ❤

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!

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.)

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.

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.

Great to see educational and positive-story reporting. It feels so refreshing.

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.

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

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

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.

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

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.

An excellent production. The reporting and interviews were superb, as are most Financial Times productions I have viewed.

I was just on American Giant’s website a couple days ago. I would definitely be willing to pay more for something made here. 😃

Thanks Rana for sharing, great documentary. Couldn't agree more on "Head, Heart and Hand" use in going local!

This is an excellent video! Very well produced, love the motion-tracked text and figures.

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.

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.

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.

Made in America always sounded good to me. Hopefully, this will indeed lead to better jobs and wages for the workforce in general.

Excellent video. We need to revive American Manufacturing.

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

Wow this was actually a really high quality video. Great work thank you!

Great documentary. I could not agree more!

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.

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.

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!

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.

Good job FT!!!! Wonderful reporting 👏

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%.

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.

Most encouraging story I've heard in 25 years! Thank you

Congratulations Rana. Real debate about real problems. That is real journalism.

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.

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.

Very interesting series of videos from FT. Thank you!

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.

This is terrific journalism. Thank you so much 👏🏾👍🏾🙏🏾

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.

Great! It's good to see jobs coming back

A very truthful valuable documentary. Thanks for making this!

Very surprised and refreshing to see good videos like this from FT. I completely lost trust in big media like FT.

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

Top notch video. Very informative. Wish it were slightly longer. But it makes a pretty solid point.

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)

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.

Nice well balanced financially and without political bias! A very refreshing trait, thanks.

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!

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 🇺🇸

100% agree. I dont mind buying expensive personal items that last.. because im very emotional and got separation anxiety

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.

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.

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.

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.

Fantastic watch and a very pertinent topic. Very well made film team FT !

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.

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 hard..so do.

This is great, thank you for this very well put together report, inspiring

So inspiring to me 😊

Excellent report, very informative. Thank you.

Stunning! Thanks very much! Best wishes for all of you hard working people with dreams.We can make it! Greatings from Madrid.

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.

Long Live INDIAN AND AMERICAN FRIENDSHIP AND MUTUAL UNDERSTANDING

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.

This is my dream to see that manufacturing as our backbone of society.

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.

I love seeing made in the U.S. products. Nice one.

It makes me smile... This should what everyone should be doing...

I visited Eagle sportswear before Covid, 2/3 of their building was empty, lots of idling equipments, about 50 workers only.