Earlier quoted context omitted.
Imagine if the whole pandemic could have been prevented if we just manufactured masks at a higher rate and everyone wore them. Now even hospitals are running out.
I cannot for the life of me understand why we aren't turning every available textile mill into mask manufacturers right now. It should be trivial to do and clothes aren't a critical item. I'm sure most countries have planned something like this as it's a common need during major wars. We're basically saying that since it's not 100% effective, so it's not worth it. Meanwhile, neither is social distancing, but that's s…
I feel like we've grown accustomed to a world where money is readily available (low interest rates), there's relative peace/safety, little trade friction, and we can ship things around the world cheaply.
Maybe we need to let the pendulum swing back a bit and do a little more manufacturing in the US? The problem is that it probably isn't economically viable except in times of crisis. So unless the federal or state government comes out and subsidizes it outright (something they do do in China, btw) it probably won't happen.
I do, on the other hand, think the last few years might be peak globalization. Wages are rising in China, there's more trade tension, and more environmental consciousness (shipping)...I'm no Trump supporter, but you kind of can see the outline of how some manufacturing might be coming back to the US.