Many corporations are reluctant to bring manufacturing back to the U.S. because they won’t be able to pay American workers the low wages they can in developing countries. Additionally, American workers are less likely to accept the poor working conditions and unsafe environments that are often prevalent in factories abroad.
I had the chance to visit China during its manufacturing boom, and what I saw was eye-opening: hundreds of factories, each employing thousands of workers, across every major city. This stark contrast to Canada, where factories were nearly nonexistent at the time, was a real wake-up call.
So, what will corporations do? For manufacturing to return to the U.S., something has to shift within the global financial system. The cost of American labor is a major roadblock for companies, and under the current fiat system, working in a factory is far from ideal. However, in a Bitcoin-based system, the dynamics could change for the better.
The issue, of course, is that we’re still operating within the constraints of the fiat system.
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Post#384
