Former U.S. Treasury Secretary Yellen: American manufacturing is gone

Former US Treasury Secretary Yellen: American manufacturing cannot return.

She frankly admitted that the return of manufacturing to the United States is a pipe dream, and Trump is hammering the US economy ——

*High Costs: The cost of building new factories in the United States is high, including construction costs and equipment certification time. For example, building a new factory may require $12 million to $15 million and take one year, with an additional year needed for equipment certification.

*Incomplete Supply Chain: Many components rely on overseas production, and rebuilding the supply chain requires huge amounts of time and capital investment.

*Labor Issues: There are problems in the labor market, including uneven labor quality and difficulty in recruitment.

*Limited Policy Effect: Tariff policies may slow global trade and have a negative impact on the US economy.

As a former minister of finance and financial expert, Yellen's views are authoritative.

This is not intended as political denigration between parties.

Source: https://www.toutiao.com/article/1829569480960204/

Disclaimer: This article only represents the author's personal views.