The rise of inexpensive Chinese electric vehicles has upped the pressure on legacy automakers who have turned to suppliers, from battery materials makers to chipmakers, to squeeze out costs and develop affordable EVs quicker than previously planned.
The “good for people” argument (which has been misportrayed here as “charity”) was made by politicians to justify tearing down the trade barriers that allowed wealthiest countries such as the US to be a higher-income bubble.
Once those trade barriers were down, all those jobs which had no other price protections than said trade barriers (jobs like, for example, assembly workers, but not things like Legal professions specialized in a country’s Law and which require registering with a local Law Society to practice) were suddenly competing with similar people all over the World, and a lot of countries in the World are full of people who would sell their work in those areas much cheaper than equivalent workers in high-income nations.
The people it was good for were people in those “open to competition” occupations in Low Income but reasonably safe countries like China (whose income went up as manufacturing moved there) and the people who owned the means of production (who got higher dividends due to the higher profits being made by paying low-income country manpower costs and receiving high-income country prices for products and services) but nobody else as even the eventual fall in prices that occurred (over the years, as all those companies with China costs started competing on price because they could thanks to the bigger profit margins due to much lower manpower costs) was not enough to make up for the faster and deeper downwards pressure on salaries in high-income countries that happenned due to said manpower competition with workers in countries with much cheaper salaries (for example, in the mid-70s about 23% of corporate revenue in American went to salaries, whilst by 2012 it was down to 7%).
Heres the problem with the talking point of needing to bring manufacturing jobs back: we can’t fill the manufacturing jobs that we have
I work for a company that sells services to warehouses and industrial facilities. We can’t fully staff our locations, we can’t keep most of the people we hire and neither can our customers, and it comes down to the fact that the jobs absolutely suck. Who wants to work in a loud, poorly temperature controlled factory with heavy equipment and a high risk of injury while doing backbreaking work when you could work at a store or resteraunt for not much less and put far less risk to your life, limb and sanity? Bring the automation on, these jobs need to become a thing of the past.
The “good for people” argument (which has been misportrayed here as “charity”) was made by politicians to justify tearing down the trade barriers that allowed wealthiest countries such as the US to be a higher-income bubble.
Once those trade barriers were down, all those jobs which had no other price protections than said trade barriers (jobs like, for example, assembly workers, but not things like Legal professions specialized in a country’s Law and which require registering with a local Law Society to practice) were suddenly competing with similar people all over the World, and a lot of countries in the World are full of people who would sell their work in those areas much cheaper than equivalent workers in high-income nations.
The people it was good for were people in those “open to competition” occupations in Low Income but reasonably safe countries like China (whose income went up as manufacturing moved there) and the people who owned the means of production (who got higher dividends due to the higher profits being made by paying low-income country manpower costs and receiving high-income country prices for products and services) but nobody else as even the eventual fall in prices that occurred (over the years, as all those companies with China costs started competing on price because they could thanks to the bigger profit margins due to much lower manpower costs) was not enough to make up for the faster and deeper downwards pressure on salaries in high-income countries that happenned due to said manpower competition with workers in countries with much cheaper salaries (for example, in the mid-70s about 23% of corporate revenue in American went to salaries, whilst by 2012 it was down to 7%).
Heres the problem with the talking point of needing to bring manufacturing jobs back: we can’t fill the manufacturing jobs that we have
I work for a company that sells services to warehouses and industrial facilities. We can’t fully staff our locations, we can’t keep most of the people we hire and neither can our customers, and it comes down to the fact that the jobs absolutely suck. Who wants to work in a loud, poorly temperature controlled factory with heavy equipment and a high risk of injury while doing backbreaking work when you could work at a store or resteraunt for not much less and put far less risk to your life, limb and sanity? Bring the automation on, these jobs need to become a thing of the past.