“As the cost of shipping continues to soar along with fuel prices, homegrown manufacturing jobs are making a comeback after decades of decline.
While it once cost $3,000 to ship a container from a city like Shanghai to New York, it now costs $8,000, prompting some businesses to look closer to home for manufacturing needs.”
June 24th, 2008 at 10:29 pm
This logic only works in your favor when you only look at imported goods, and works against you when a significant portion of your sales revenue comes from exporting goods to other international destinations.
In the latter case, you are screwed just like the rest of the world.
June 24th, 2008 at 11:39 pm
For keeping manufacturing in America, I guess so.
Read the same in a german economic newspaper just yesterday for our manufacturing jobs.
In America it will be even better for mexican maquiladora, as they were hit harder by last years spectacular rise of chinese imports.
On the other hand, chinese imports helped us all to dampen inflation.
As allways, good and bad efects, but I fear that there are more bad effects.