Our US supply chains have been predominantly domestic in nature and we as a country have fallen far behind Europe's and Asia’s international commerce. We must kick it into gear to stay competitive. Whether we like it or not our world is now global and US manufacturers must begin to think globally or they will lose out to international competition. If one stays focused on just the North American market, they will produce product and sell it to a mere 5% of the world’s population. If they focus on the international markets, as an example, they can build and sell to the other 95% of the world’s population.
Oh by the way, the middle class in those countries is growing tremendously. Take China for example, Just a mere 5 years ago the average wage for its workers was 96 cents per hour. Today those same worker are at $4.09 per hour. Their infrastructure outside of the major cities was non-existent. Today they have major highways and their government has spent billions on infrastructure. If you just focused on Asia you could sell to 60% of the world’s population. Guess what? These consumers have more spending power, better infrastructure, and they want the same things you and I enjoy here in the United States.
