One Thing I Didn’t Know, and One Thing I Didn’t Think Was Likely

What I didn’t think was likely may be so:

The conditions are coalescing for another US resurgence (in manufacturing). Rising wages, shipping costs, and land prices-combined with a strengthening renminbi-are rapidly eroding China’s cost advantages. The US, meanwhile, is becoming a lower-cost country. Wages have declined or are rising only moderately. The dollar is weakening. The workforce is becoming increasingly flexible. Productivity growth continues. our analysis concludes that, within five years, the total cost of production for many products will be only about 10 to 15 percent less in Chinese coastal cities than in some parts of the US where factories are likely to be built. Made in America, Again

What I didn’t know:

US certification for organic products is more rigorous than European organic standards in required agriculture conversion periods, milk production, organic feedstuffs (especially), health care, and labeling. Source: Organic Trade Association 2003.

 

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