06-12-2018, 8:26pm
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#7
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A Real Barner
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Quote:
Originally Posted by VITE1
It's a lot more complicated than this. TV industry left the USA because the ROW market was so much bigger and the costs in the USA were driven up. Same for Textiles. Both had different cost drivers that made them untenable.( Unionization, EPA regulations, Taxes, Overhead like Medical, ETC,ETC)
Steel is a much more complicated issue. After WWII most of the ROW steel production was blown to hell. They all bought new leading edge forgers from us. We did not upgrade. It hurt us for decades. Then in the 80's and 90's steel started to rebound. At the same time China started programs to subsidies exports of steel so they could corner the market China sells much of their steel at or below their cost of production and now control over 50% of the world market place.
Please note that most of the Chinese steel industry is owned or controlled by the PLA.
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Of course it is more complex than what I posted. I was simply reminding Gene that the US has changed since WW2, and the world has taken up the slack. The reasons are indeed many and varied.
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