NEW YORK – The bad news is that America hasn’t invested much in manufacturing during the past 20 years. The worse news is that most of the manufacturing capital equipment that America uses came from imports. Not only does the US have a US$1 trillion trade deficit, but about $300 billion of that deficit comes […]
US reliance on China’s capital goods rules out decoupling
Drive to revive American industry won’t get far without even greater imports of Chinese-made manufacturing equipment