Question

Was the loss of traditional manufacturing inevitable in the U.S. economy? 2) Can the United States hold on to its current manufacturing base? If so, what needs to be done to do so? If not, why?

Answer 1

Answer:

1. Yes, the loss of Traditional manufacturing was inevitable in the US economy due to trade deficits and technological Innovation.

2. No, the US cannot hold on to its current manufacturing base

Explanation:

1. The principal causes of manufacturing job losses were growing trade deficits followed by Technological innovations that is gradually replacing human tasks with machines and Artificial Intelligence.

U.S. manufacturing employment has declined steadily as a share of total employment, from around 28% in 1960 to 8% in March 2017.

Manufacturing employment has fallen from 17.2 million persons in December 2000 to 12.4 million in March 2017, a decline of about 5.7 million or about one-third.

2.  NO, The US cannot hold on to its current manufacturing base except they

• Develop a national trade strategy and increase funding for U.S. trade policy-making and enforcement agencies.
• Fully fund a nationwide manufacturing skills standards initiative.
• Expand high-skill immigration, particularly which focuses on the traded sector

Answer 2

Answer:

1. Financial analysts and business examiners would concur such occupation misfortunes were inescapable. U.S. organizations developed from a horticultural economy to the present assistance and innovation based economy.  

2. As the case noticed, this will be troublesome. Be that as it may, insofar as American specialists remain the most talented on the planet and business people keeps on enhancing with new advancements and items, U.S. assembling will endure.