Funny you pick textiles of all businesses. What about pharmaceutical companies like Pfizer, or Carrier Corp, or Ford Motor Company? What is their excuse?
We had a huge manufacturing advantage from WW2 all the way until, say, mid 70's.
60% of the worlds manufacturing was done right here in the good ole US of A.
What happening?
Well, in during world war 2, the civlized world was blown to bits, and we were unscathed. The rest of the world did not have the technological advancements, as of yet.
So along comes the Marshall Plan, and some other countries that were less sophisticated then, started getting there act together and we now face global competition for the very thing we were doing better than everyone else on the planet ,
combined.
Sure, fair, or fairer trade sounds great, let do that, but it ignores the fact the rest of the world has caught up to us on a lot of levels.
Who makes the best TV's now? Hyundai/Kia can offer 100,000 mile/10 year warranties on their vehicles, etc,etc,etc.
It is not just the trade deal alone, or immigration, that is hurting the once mighty American economy.
frankly, the world caught up.
We also need to take a real serious look at governments role in industry. Look at the taxes, rules, regulations, and lobbying efforts that pick winners and losers.
I think that would help more than any trade reform.
But to go back to previous levels of manufacturing in the US?
I think we will never go back to that post WW2 level again, not without a catastrophe elsewhere in the world.
