The United States has been shifting its industrial production overseas, with China being the preferred destination for decades. However, this decision is now coming back to haunt the US as they try to bring their factories and investments back home. The cost of producing goods in the US is significantly higher than in China, which has led to a shift in production towards Asia. Apple, for example, produces between 85 and 90 percent of its smartphones in China, with the rest being produced in Vietnam and India. Bringing Apple’s production back to the US would increase the cost of smartphones by 90 percent, making them unaffordable for most consumers. Other US companies, such as Tesla, Boeing and Coca-Cola, have also moved their factories to China. The shift in production has benefited both the US and China, but the US is now facing the consequences of its decision to rely on China for its industrial production.
The Unexpected Rise of a Global Industrial Power
