Most working-age Americans have only heard about the days when America’s factories supplied goods to virtually the entire world.
Now China, India and other low-cost countries supply these goods. And before China, in the 1970s and ’80s, it was Japan.
Indeed, two generations of Americans have now come of age laboring under the assumption that the United States can’t compete with China and other low-cost manufacturers. While that may have been true a decade ago, it’s no longer true today.