Chapter 2 discusses the topic of productivity. Is the United States still productive and/or competitive in...
Chapter 2 discusses the topic of productivity. Is the United States still productive and/or competitive in manufacturing from a World Class standpoint? Please support your answer. What factors effects Unites States productivity and manufacturing.
Homework Answers
No, the United States is not as competitive in the manufacturing as it uses to be. The main reason for this is the rising wage or labor cost in the United States. Technologically the United States still most advance but with the advent of globalization that technology is not limited to the US but is used by other countries like India and China, these countries also have a huge amount of labor owing to their population which keeps the wages low. Combining with the latest tech these countries become more competitive than the US and produce the same good at a much lower price.
It's mainly the wages difference in the US and other developing countries which affect the competitiveness of the products and manufacturing.
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