Interesting concept. I'm just not so sure I share your confidence that "a whole new industry will rise up to take its place." Ideally, that is what we would all like to see happen, since I do agree with you that the manufacturing base is never going to recover. However, I can't imagine what "new industry" will take its place. I don't think it will be technology - there simply isn't a large demand for labor in the technology sector (at least compared to the labor required of manufacturing). And, many technology related jobs do not have to be done here in the U.S., either.
If this is the direction the global economy heads, the U.S. will have another problem - education. If technology jobs are going to replace manufacturing jobs, we are not prepared for it. I recently spoke with an immigrant from Africa that was saving money to bring his children to the U.S. for their education because IT IS EASIER to get a degree here. He said the course work that they have to complete in Africa is much more difficult. I can't imagine what new industry could possible replace manufacturing that we would be prepared for.
I agree that the loss of jobs is inevitable... but, I don't think that this "new industry" coming to the rescue is a sure thing. That is kinda scary.
Robert A. Franco
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