Four years after the peak of the global economic and financial crisis, characterized by a drastic drop in wages, the United States is once again attractive for manufacturing companies. This change was recognized by the president of the United States himself, Barack Obama, who argues that after the slimming cure suffered, the States are becoming more competitive than China itself.
According to research by the Boston Consulting Group, out of a sample of 106 companies with a turnover of more than 10 million dollars, 48% plan or are considering relocating production from the People's Republic to the United States. “The numbers come back in favor of the United States, whose manufacturing is conveniently located for product sales within the country and in key foreign markets,” said Harold Sirkin, a senior partner at BCG. “This trend, which already exists, will begin to accelerate in 2015.”
Among those who have moved are Terex (construction equipment) and Agco (agricultural equipment). General Electric and Caterpillar will not reduce their presence in China, but will increase the number of their plants on American soil. Six weeks after the presidential vote, both candidates have taken firm positions on China. Obama has taken Beijing to the WTO over illegal subsidies to the Chinese auto industry, while Republican candidate Romney has promised a hard line against currency speculation.
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