Sadly, he ignored the role of the federal government in hurting U.S. manufacturing by increasingly expensive rules, a variety of laws encouraging litigation against employers and manufacturers, and his opposition to allowing profits made abroad to be repatriated to the United States.

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But the British have been cautious about giving most firms too specific a lead, unlike the French and Germans, says Nick Brayshaw, head of manufacturing at Barclays Bank, because they worry about breaching the European Union's competition rules.

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The relaxation of rules on the origins of cars is to ease the concerns of major foreign investors manufacturing cars in Korea, considering their heavy dependence on foreign parts and components.

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India's hiring and firing laws also explain why the growth in manufacturing has been weak compared with the boom in services, which are not covered by the same rules.

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