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Why Factories Are Coming Back To The U.S.

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As factories closed and more companies moved their operations offshore, employment in manufacturing has declined over the years. But now the Biden Administration is spending big on industrial policies, such as the CHIPS and Science Act and the Inflation Reduction Act, to bring manufacturing, especially semiconductors and electric vehicles, back to the U.S. But some economists warn against the dangers of government playing favorites in a free market. So how exactly is the U.S. government convincing manufacturers to return? And will its bet pay off?

Chapters:
00:00 — Introduction
01:58 — Industrial policies
04:47 — Pros and Cons
08:20 — Way forward

Produced & Edited by: Juhohn Lee
Animation: Christina Locopo
Supervising Producer: Lindsey Jacobson
Additional Sources: EPA, White House, Department of Commerce, Center for Strategic & International Studies, Census Bureau

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Why Factories Are Coming Back To The U.S.

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31 Comments

31 Comments

  1. @anakinskywalkerii4350

    January 17, 2024 at 8:39 am

    Let’s put it simply – when the line between Government and Industry is wafer thin as it is in the case of China, it is the US Industry going up against a formidable competitor whose single minded focus is to go toe to toe with the US nation. So unless the US government, plays a role, US government, taxpayers and industry are going to lose.

  2. @michaelsimpson2103

    January 17, 2024 at 8:39 am

    You can not employ people that don’t want to work. A large number of people fall into this category

  3. @likehermosis3119

    January 17, 2024 at 8:39 am

    My ex boss was from Ireland, I'm African American, he didn't like me 😤😵‍💫🤮, I didn't use bad words, anger, and my behavior was always professional 😢 and I have a 4 year degree

  4. @abramswee

    January 17, 2024 at 8:39 am

    Every countries need some level of protectionism to keep both jobs and market shares internally.

  5. @GalacticTradingPost

    January 17, 2024 at 8:39 am

    showing a blue collar worker is misleading. alot of these factories are automated, like 3M.

  6. @mclevelandkent

    January 17, 2024 at 8:39 am

    Just wen they think America is failing
    It makes a comeback
    GOD BLESS AMERICA ❤

  7. @jlam3927

    January 17, 2024 at 8:39 am

    We want dystopian factory jobs! We want dystopian factory jobs!

  8. @China_Business

    January 17, 2024 at 8:39 am

    Did that guy actually cite the COVID vaccines as an example of effective industrial policy?

  9. @leemobai762

    January 17, 2024 at 8:39 am

    Yes give companies massive subsidies and they will return to the US of Ass.

  10. @JabborWacky

    January 17, 2024 at 8:39 am

    A critic would say letting markets decide winners and losers leads to capital flight in the long run. In the case of the US, we are increasingly having to worry about China and its navy, but we don't have the manufacturing here in the US anymore to meet our needs for self defense. We'll run out of missiles and ammo long before the Chinese do, and the Chinese possess the advantage of numbers. Something in our civic engineering of the country has gone deeply astray if embracing free market economics leaves us at the mercy of foreign adversaries.

  11. @jesuelsilverio8345

    January 17, 2024 at 8:39 am

    His voice sounds like Bill Gate's voice 6:28

  12. @graemelliott3942

    January 17, 2024 at 8:39 am

    This is propaganda, business owners always go where the labor is cheaper.

  13. @bluefridge7923

    January 17, 2024 at 8:39 am

    it is very disturbing to me how the media makes sure that nobody realizes that Biden and trump are very similar in many of their policies. bringing our manufacturing back home is smart and it is proof that biden knows what he is doing. he isn't a bumbling idiot like the press and talking heads would have you believe and he isnt in cahoots with china. one of the biggest mistakes made by the us in a long time was sending all of our manufacturing to china. I remember 30 years npr preaching over and over how buying american is stupid when you can get it somewhere else cheaper. those ivory tower types who tell npr and the times what to say really harmed the us in the long term by fundamentally misunderstanding china and how they would react to being brought into the global system. no matter what the media says about Biden he will probably go down in history for making alot of tough decisions that strengthened the us in the long run.

  14. @swerveanimationstudios

    January 17, 2024 at 8:39 am

    Thanks JB

  15. @DaveRoseland-kq1gr

    January 17, 2024 at 8:39 am

    Highskilled immigration is national security risk to our existential existence. Right now theres illegal immigrants that will be detained and deported until this national security threat is addressed and eliminated from our national borders and our USA U.S. Nation. How dare you risk our own Supreme Power Status to China. The chinese are making artificial islands out of reefs and is way ahead of our ai technology its not even funny, chinese are ahead in manufacturing and infrastructure. Micron wants to give its valuable comodity new intergrated chips that china was withholding its trade of chips to our national security is a risk to USA U.S. National security. We are not gonna give our valuable technology highskilled immigrants that would put the USA U.S. in a national security breech which would constitute indictments on highskilled immigrants for treason of spying on our newly found technology of chips. Absolutely No. And No again. What were gonna have to do is implent job opportunity to our highschoolers immediatly and learn chip technology manufacturing and bring vocational programs into the workforce offices nationally in every state of USA and America of the UnitedStates implentband start today today so that we can counter corruption from the immigration industrial complex will be held accountable for treason and betrayal on USA by Influence of hostile foreign country China. Dems need to be accountable for treason with China ideaology is national security risk to our nation USA.

  16. @alexCh-ln2gw

    January 17, 2024 at 8:39 am

    because china is highly political and destructive, fabricating a false pandemic to shut down US businesses, large and small. The CCP is completely sociopathic and doesn't care about anyone but itself.

  17. @timothybageant7429

    January 17, 2024 at 8:39 am

    Bla bla bla… sock puppets

  18. @dohminkonoha3200

    January 17, 2024 at 8:39 am

    Globalization and Free Market are dying ideologies.
    It’s a war on Chinese manufacturing capability.

  19. @KA4UPW

    January 17, 2024 at 8:39 am

    Where are they gonna find people to work in these factories 😂.

    Good thing the wall was never built.

  20. @randykintzley5923

    January 17, 2024 at 8:39 am

    These people are fine with government help when it's approval and subsidies for additional oil drilling and/or fracking. When done for green energy, it's positioned as "picking winners and losers". Recently, this distorted messaging often comes from supposedly friendly sources. In other words, the traditional energy players are in full command of both political parties. They control climate summits…etc.

  21. @ashantedula5696

    January 17, 2024 at 8:39 am

    Why be a factory worker and be middle class when you can be a youtuber / podcaster and be rich. 😅.

  22. @You_are_Right_

    January 17, 2024 at 8:39 am

    All Joe’s doing, right?

  23. @combusean

    January 17, 2024 at 8:39 am

    Of course the the CATO institute economist has no idea what's the right industry or the wrong industry, he's a 12 year old living in a fantasyland.

  24. @karimah8687

    January 17, 2024 at 8:39 am

    “3rd World” countries are now becoming developing countries and they realize that they don’t need to work for slave wages anymore.

  25. @tertur2957

    January 17, 2024 at 8:39 am

    Why were factories offshored in the first place? Cheap labour to maximize profits and returns to shareholders. Now you have a lower standard of living for workers and given away vital manufacturing secrets.

  26. @robhappe906

    January 17, 2024 at 8:39 am

    Labor costs are less important due to automation, mechanization and sophisticated product design

  27. @muzammilriyaz

    January 17, 2024 at 8:39 am

    I think this is all trump efforts he started, to push manufacturing in USA instead of China… He deserve credit for efforts and stance he made for his own country interest

  28. @89qwyg9yqa34t

    January 17, 2024 at 8:39 am

    The problem is that overseas manufacturing is not sustainable. Average people of average ability are squeezed between job requirements of higher-level positions and H1b visa holders. Also it appears that American labor in some states is now at a tipping point where it's almost at equilibrium with cost compared to overseas. Also, tightly-coupled supply chains that involve multiple countries create problems during times of economic stress.

  29. @noacktexas

    January 17, 2024 at 8:39 am

    Great report!

  30. @jjeverson2269

    January 17, 2024 at 8:39 am

    Manufacturing needs to be streamlined better in order to reduce the chance of export

  31. @AA-vr8ez

    January 17, 2024 at 8:39 am

    Thank you President Biden!

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