Research On The Development Of "Re-industrialization" Strategy In The United States

The second industrial revolution produced advanced technology for the development of the American manufacturing industry brought the boom for a while.In 1960 s,however,the United States suffered from the oil crisis and stagflation,economic development was blocked,countries such as Europe and Japan rose rapidly under the help of the United States,bring great competitive pressure to the United States,the American manufacturing industry began to decline gradually,showing an obvious trend of deindustrialization,and the economic center of gravity began to shift slowly from manufacturing to service.At the same time,with the rapid development of the virtual economy in the United States,many real industries will also choose to use financial means to increase their own capital,resulting in the hollowing out of the industry and the continuous loss of capital and personnel in the manufacturing industry.Has exacerbated the excessive financialization of the American economy.The U.S.government began to implement the minimum interest rate policy to buy homes in order to get rid of the economic downturn,which eventually led to a surge in the size of the country's subprime debt and then ignited a global financial crisis.The outbreak of the financial crisis has made the United States government aware of the fact that the growth of the virtual economy is unsustainable,and that a country that wants to maintain its long-term prosperity depends on strong and leading manufacturing.In order to contain the recession after the financial crisis,rebuild the competitive advantage of manufacturing in the world,and realize the revival of American economy,the Obama administration put forward the strategy of "re-industrialization".Mainly by reducing taxes,providing a favorable environment for domestic manufacturing industries,vigorously developing advanced manufacturing industries,seizing the international market to expand exports,reducing trade deficits,actively promoting the development of small and medium-sized enterprises,and improving the education system.To promote the realization of the strategy of "re-industrialization" by cultivating talents suitable to the development of manufacturing industry and so on.The results of the Obama era's "re-industrialization" strategy have not been obvious,although manufacturing value added has increased both in value terms and as a share of the world.But there was no significant increase compared to the figures before the financial crisis,Moreover,the increase of manufacturing industry is worth increasing and the ratio of manufacturing industry to GDP is also decreasing.The increase of manufacturing industry index is obvious at the beginning of strategy,but it fluctuates greatly with the passage of time,and there is no trend of vigorous development.Judging from the employment situation created by the manufacturing industry,the number of people employed in the manufacturing industry has increased slightly,but its share of the total number of people employed has declined year by year.In sum,the strategy of "re-industrialization" has not brought about a faster boom in the manufacturing industry.But we cannot deny that the strategy of "re-industrialization" has brought about a certain recovery of the American economy after the financial crisis,and to some extent has prevented the continued decline of manufacturing.President Trump is also paying more attention to the revitalization of manufacturing,but his individual policy directions are quite different from those of the Obama years,such as holding high the banner of trade protectionism and increasing tariffs.Opposing WTO,withdrawing from the TPP,and so on,protecting domestic manufacturing products;preventing the outflow of domestic enterprises by reforming the tax system of enterprises and controlling immigration policies,and accelerating the return of foreign domestic enterprises to protect and increase employment in the country.Reducing unemployment;President Trump also places great emphasis on building infrastructure as a priority for the new year,when it will be "made in America" to create jobs in sectors such as construction,steel and so on.Signing the "energy independence" executive order,lifting mining lease restrictions,increasing employment by boosting the coal industry and oil and gas production,and so on.However,from the impact of these policies,we can see that in the era of globalization,anti-globalization trade protection is not a long-term solution.Although the construction of infrastructure can be win-win,the overall project investment is huge and the period is very long.Not overnight,contrary to the world's low carbon emissions,the "energy independence" executive order pursuing clean energy goals may be reversing.In any case,the advance of the "re-industrialization" strategy of the United States will have a tremendous impact on its own country and on all countries around the world,especially in the current period of President Trump,when radical trade policies will increase trade frictions between the United States and other countries.Too much trade protection will hinder the existing process of globalization and will also affect the position of the United States in global economic governance.It will bring some competition and pressure to Chinese industries and products,but at the same time,The development of China's manufacturing industry will also play a role in spur.