Essays On Outsourcing In America
subsidiaries of global companies have operations in the state, and those companies insourced 209,000 jobs (6% of total private sector employment) in 2014, including 131,000 factory jobs in Michigan.
Just like it makes economic and business sense for thousands of foreign companies to outsource jobs and production foreign countries, perhaps also because overseas markets now represent more than 50% of retails sales for many U.
Bottom Line: In today’s highly globalized economy, multinational firms operate in a world marketplace that increasingly makes national borders meaningless and irrelevant, as firms capitalize on hyper-efficient global supply chains that add enormous value, and ultimately result in lower costs and higher quality for the goods that consumers buy here and around the world.
In the recent Trump-era discussions on US manufacturing, the outsourcing of production and jobs overseas, and the supposed “theft” of our jobs by Mexico, China and Japan, we lose sight of another big part of the global economy: the America by the 6,100 US-based affiliates of foreign multinational companies that operate here and employ millions of our workers.
Here are some key statistics on jobs insourced to the U. that highlight some of the significant economic benefits to the U. economy from the thousands of foreign-based firms that outsource jobs and production the US has a significant and positive impact on our economy, and yet this huge economic stimulus gets almost no attention.
All we ever hear about from Team Trump is the jobs that are allegedly being “stolen” from us by China, Japan, Europe and Mexico.
At the same time, the world wide cost competition cannot be compensated by the individuals.
Therefore, compensating measures should be taken from the government to the industries that are outsourcing their jobs and transferring their businesses outside U. A for cheap cost of doing business and high profits.
It is government's responsibility to make sure the business environment and creation of jobs.
Q: How could it possibly make sense for Trump to accuse Mexico, China and Japan of “stealing” our jobs, unless he also admits that the US is apparently then also “stealing” jobs from other countries, more than seven million in 2016?
A more enlightened and up-to-date view of international trade would recognize the economic reality that modern businesses today operate in an increasingly globalized marketplace for their inputs, parts, materials, supplies along complex, cross-border supply and value chains that include multiple dozens of countries.
In addition, those global companies serve retail markets in hundreds of countries around the globe.
Just like it makes economic and business sense for thousands of foreign companies to outsource jobs and production foreign countries, perhaps also because overseas markets now represent more than 50% of retail sales for many US-based companies like Apple (63% of 2016 sales were in foreign markets), Procter and Gamble (58% sales were overseas), GE (62% foreign sales) and Pfizer (56% overseas sales).