General concept correct, but 48 years of transfer of manufacturing to China is way off. Did not start in earnest until mid to late 90s. To China.
To other Asian countries you are correct. I work in an industry that actually led this move to Asian manufacturing. Singapore, Philippines, Malaysi, Korea, were all first ( late 60s, early 70s). China much later in late 90s.
But your point is valid on China The transfer to China was bigger, across more industries, and faster to move there once it started.
Nixon marked the beginning of the manufacturing outsourcing to China in 1972. The outsourcing started from nothing in 1972, but it built up rapidly until it becomes a huge trend in the late 80's and remains until now. Nonetheless, 1972 marked the year when the American corporations began to realize that they could enrich themselves hugely by shifting manufacturing to China, thereby emptying out factories in the mid-west and contributing to the wage stagnation and the decline of the American middle class.
That sounds about right. I met a guy though car forums in the early 2000s, and he was basically traveling around western North Carolina buying up furniture factories to ship to China, lock stock and barrel.
What has happened, is Wall Street and Washington sold out Main Street for fun and profit for themselves.
General concept correct, but 48 years of transfer of manufacturing to China is way off. Did not start in earnest until mid to late 90s. To China.
To other Asian countries you are correct. I work in an industry that actually led this move to Asian manufacturing. Singapore, Philippines, Malaysi, Korea, were all first ( late 60s, early 70s). China much later in late 90s.
But your point is valid on China The transfer to China was bigger, across more industries, and faster to move there once it started.
Nixon marked the beginning of the manufacturing outsourcing to China in 1972. The outsourcing started from nothing in 1972, but it built up rapidly until it becomes a huge trend in the late 80's and remains until now. Nonetheless, 1972 marked the year when the American corporations began to realize that they could enrich themselves hugely by shifting manufacturing to China, thereby emptying out factories in the mid-west and contributing to the wage stagnation and the decline of the American middle class.
Lot of shitty old tools were made in Japan. A Japanese ratchet remains the only one i've ever broken.
That sounds about right. I met a guy though car forums in the early 2000s, and he was basically traveling around western North Carolina buying up furniture factories to ship to China, lock stock and barrel.
What has happened, is Wall Street and Washington sold out Main Street for fun and profit for themselves.