So, has America been throwing our future away the past several decades? Have we been exporting all of our manufacturing capability? Are we at the mercy of China, Japan, South Korea, and Indonesia?
U.S. manufacturing output reached its all time high in 2006. U.S. manufacturing revenue reached its all time high in 2006. U.S. manufacturing profits reached their all time high in 2006. Average annual compensation for U.S. manufacturing jobs is over $66,000. The U.S. manufactures 2.5 times more goods than China does. Finally, the U.S. produces the largest share of total world manufacturing, not China.
So, who's economy has been all hollowed out and is on the verge of collapse? Not ours.