Agency predicts 'Made in America' return in five years

by:Gewinn     2022-05-04
The Global Consumer and Industrial Products Industry Group and the U.S. Competitiveness Council released a '2016 Global Manufacturing Competitiveness Index'. It is expected that 'Made in the United States' will return strongly in the next five years, and the United States is expected to surpass China to become the most competitive in the world. China is the second largest manufacturing country. On Monday, data from the U.S. Department of Commerce (DOC) showed that factory orders fell 1.7% in February from the previous month, in line with expectations. The final value of durable goods orders in February was worse than expected, down 3%. Although the US manufacturing data is still weak, according to Wang Zihong, a researcher at the American Institute of the Chinese Academy of Social Sciences, the data released by the US Department of Commerce mainly reflects the status quo, while the report released by Deloitte mainly focuses on competitiveness. 'The U.S. manufacturing industry has shifted the low-end to foreign countries, and it does not have an advantage in terms of trade volume, but in fact, the U.S. manufacturing industry is still very strong in terms of design and service.' Wang Zihong said. As the U.S. gradually enters the peak construction season, the previously weak manufacturing data is also expected to show an inflection point. Historically, the United States once took the lead in the manufacturing field with its advanced manufacturing technology and complete manufacturing system, leaving the world unmatched. But after entering the 21st century, the status of the US 'world manufacturing factory' has gradually been replaced. When the financial crisis broke out, the share of US manufacturing output in the world had dropped to 18.5%, which seriously affected the number of US jobs and economic recovery. In order to return to the peak of manufacturing, ensure that the United States has the upper hand in the new round of technological revolution, allow Americans to master the production skills of new technology products, and create more high-income jobs, US President Barack Obama will develop after his successful re-election. Advanced manufacturing was the focus of his administration during his second term. So far, the Obama administration has established seven advanced manufacturing innovation institutes across the country. The research areas of these institutes include 3D printing, digital fabrication and design, next-generation power electronics fabrication, lightweight materials fabrication, advanced composite fabrication, integrated photonics fabrication, flexible hybrid electronics fabrication, and more. At the same time, a set of data from Oxford Research Institute shows that from 2003 to 2016, the unit labor productivity of the US manufacturing industry increased by about 40%, surpassing Germany's 25% and the UK's 30%. Tim Hanley, Deloitte Global Consumer and Industrial Products Leader, said: 'The United States is developing advanced manufacturing technologies, including smart, connected products and factories. At the same time, the United States is also a world leader in predictive analytics and advanced materials, and these Factors are the core competitiveness of the future. And the United States has also been outstanding in building connections and synergies between individuals, technology, capital and companies, forming a tightly connected innovation ecosystem, and creating huge amounts of money through Ru0026D investment value.' According to a report released by Deloitte and the US Competitiveness Council, advanced technology and innovative development will be the main features of the future manufacturing industry, which is currently in a sustainable, smart, safe and rapid rise stage, and the United States will is a leader in the transformation of this industry. However, although the Obama administration has implemented a strategy to develop advanced manufacturing for more than five years, the implementation of this strategy is still in its infancy.
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