In the context of the US-China Strategic and Economic Dialogue, the Washington Post (5/10) editorializes that “even as leaders again made promises about currencies and trade, evidence was mounting that some old assumptions regarding their relationship may no longer apply.” Manufacturing is presented as a prime example of this: with the advantage of manufacturing in China diminishing thanks to rising wages there and higher productivity in the US, more companies are choosing to manufacture their goods in the US. The Post offers “a few caveats,” such as the fact that China will remain a manufacturing powerhouse, and that “shifting production does not automatically translate into huge numbers of new US jobs.” But regardless, the Post adds, there are related benefits to domestic manufacturing, and a more competitive manufacturing base makes it “appear that the United States does have a future after all – as a highly efficient manufacturing platform for the developed world.”
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