CHINA
Published 5 hours ago
Coronavirus pressures US manufacturers to bring plants home from China
'We have to be able to make things in the United States'
By Jonathan Garber FOXBusiness
Coronavirus revealed limits of America's digital superiority: Sen. Marco Rubio
Sen. Marco Rubio, R-Fla., discusses China's effect on U.S. handling of the coronavirus pandemic.
The COVID-19 pandemic has America rethinking its reliance on China for not only key medical supplies but production capacity in general after Beijing clamped down on exports of critical items used to combat the disease.
China is the world’s largest producer of masks, test kits and other medical equipment needed to control the spread of COVID-19, and the shipping restrictions sparked outrage in the U.S., which leads the world in infections with more than 706,000 cases.
“One of the things that has happened with this pandemic is it's revealed to everybody the limits to our digital superiority and our software and all the things that we've innovated in technology,” Sen. Marco Rubio, R-Fla., told FOX Business’ Maria Bartiromo. “You still have to be able to make things. You still have to have industry and industrial capacity as a country. And we've given a lot of it away.”
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Indeed, only about 11 percent of U.S. gross domestic product comes from manufacturing today, down from almost 40 percent in 1945.
As the U.S. has lost its place as the world’s leading producer over the past 25 or 30 years, China has emerged as the go-to place for manufacturing due to its ability to “create economies of scale in relatively small geographies,” Charles Freeman, senior vice president for Asia at the U.S. Chamber of Commerce, told FOX Business.
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READ MORE: https://www.foxbusiness.com/markets/coronavirus-us-companies-china-operations
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