That is, if we have more manufacturing in the economy then the economy as a whole would be more stable.
Thus, if we want to have a stable economy we want to reduce the exposure we have to the manufacturing sector, not increase it.
Our growth strategy also includes a series of investments and capacity expansion plans for operations across Asia, including a quadrupling of our excavating manufacturing capacity at Caterpillar Xuzhou in Xuzhou, China, where we now have 16 manufacturing facilities and nine more that are in construction.
And that's why if we're going to have a successful manufacturing sector, we've got to have successful exports.
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But we're investing in the United States because we have the technology, we have the capability for manufacturing those products on a lowest-landed cost basis for markets outside of the United States.
If we have been exporting manufacturing jobs then there must be more manufacturing jobs elsewhere than there were before.
And that is, we have to take steps as manufacturing jobs have left or as companies find it more profitable to set up shop in some other place, to provide incentives through research and development and manufacturing and exports right here.
We concentrate on manufacturing, where we have a cost advantage, and they do the marketing, whereby they help us take it to other emerging markets and the developed world.
So in essence we have our own local manufacturing and distribution operation that, in some cases, they would have a difficult time matching.
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And we heard from manufacturers about all the possibilities that we have in terms of turning our economy around and being a manufacturing base again if we have the workers who have the skills that we need.
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At date one we need 40 people to do the manufacturing we want to have done.
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We have complex technologies and manufacturing procedures, multi-stream product discovery and development processes, intricate partnerships with suppliers and customers.
And we should all agree that to grow our economy we have to invest in manufacturing, clean energy, infrastructure, education.
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So in a relatively short period of time we have created advanced battery manufacturing plants, privately owned all across the country.
But this general belief that we must always have a manufacturing base is rather more evidence of the distinctly effective propaganda from that quarter than a description of any economic reality.
We have a situation where manufacturing in this country, which had been in decline since the mid-1990s, has experienced a revival and more than half a million jobs have been created in manufacturing.
Yes, we should have kept more manufacturing.
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We're going to have a manufacturing policy, because I don't believe we can remain a great country with a strong economy if we don't make things in America.
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But when it comes to high-end, high-skilled jobs, those are the kind of manufacturing jobs we have to go after.
Those are the kinds of things that are going to make sure that we have the high-end manufacturing here in our country.
We have created an advanced battery manufacturing facility -- facilities right here in the United States that are going to allow us to maintain that cutting edge.
And so automakers now want to make more fuel-efficient cars, and we now have the advanced battery manufacturing here in the United States to take advantage of that new market.
It means we have to keep strengthening American manufacturing.
It is true that we have had a peak in manufacturiong employment in hte US. It is not true that we have had a peak in manufacturing output in the US. US manufacturing output continues to rise even while manufacturing employment falls.
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We have to replace this and we have started doing that with things like the advanced manufacturing park.
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And we have seen some other indicators that manufacturing is beginning to pick up.
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As we have seen in recent months, manufacturing is one of the bright spots for our economy.
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