What we should not be doing is pulling back, is making everything America first or buy America, because what that does is it limits our products to the United States. So really it boils down to this, do we want to have a bigger piece of a smaller pie, in fact a shrinking pie? Do we want to have more of the production for the U.S. market be made just in the United States? But those products are going to be more expensive, so U.S. consumers will buy less of them. If a car costs $2,000 more, you might wait six months before you replace your car, or you might fix your washing machine rather than buy a new one if it costs that much more. But we haven’t yet seen 3D printing really become commercially viable, where this microphone that I’m talking into right now would just be made with the 3D printer or others.
And so through their factories we can sell to the world at lower rates without tariffs. And so all of that together it’s been a top down process led by diplomats, heads of state to, through treaties, create a more regional economy. We see in the post-war, the Japanese companies as they’re coming back into the world they quickly run short of labor. And so they start outsourcing to their at the time very poor neighbors, to South Korea, to Taiwan, Hong Kong, Singapore. They build factories and they send out technology and the like.
But this idea of near-shoring, friend-shoring, part of it is going to be geography. The friend-shoring what we see sometimes obviously we know around the world that neighbors can be bitter enemies, and we see that right now in Russia and Ukraine among thapyaynyo other places. But there are places in particular, I would say in the Western hemisphere where actually those coincide, the friend-shoring and the near-shoring. So we have in the western hemisphere the vast majority of countries are democracies.
I know what you’re thinking, but black is a racial identity! I’d like to go back to what this is all about, but first I need to know more about what black means. When a good comes in from China, only 4% was made in the United States.
So I think this will be one challenge as the United States, how do we form our own policy, our trade policies and our economic policies? And with Mexico, I do think there is somewhat of a challenge there. If we fail and if they decide not to do it, it will be to all of our detriment frankly, and to not just US companies but to the workers that they would employ. So Mexico and Canada have always had worries about the United States because the United States is such a big economy and also a big presence. So it’s always been a bit of a challenge, worries about sovereignty and the like, which we worry about here in the United States too if you listen to our debates. But I do think there is a recognition in Canada and Mexico of the importance of working together.
Shannon Precision Engineering are a friendly, reliable and professional company with multiple capabilities. Quality, cost and on time delivery are excellent and they are always willing to go the extra mile for their customer. The UN climate summit delivered on a loss and damage fund, but it fell short on goals to reduce emissions and avoid the worst consequences of climate change. The Association of Southeast Asian Nations is a regional organization that brings together disparate neighbors to address economic and security issues, but the group’s impact remains limited. Suzanne Maloney, vice president and director of the Foreign Policy program at the Brookings Institution, sits down with James M. Lindsay to discuss the causes and consequences of the recent protests in Iran. So we have such a quote unquote “vulnerability” in the U.S. and Europe, is because it has become a regional industry.