Have you ever noticed how much of what we buy is now Made in China? The low cost China labor is making it extremely hard for domestic manufacturers to compete. Just last year, the largest manufacturer of Thermal Underwear in America and perhaps the largest in the world sold off their inventory and closed their doors. Morgan Mills, owned by
Hanesbrandsinc. was known nationwide for their comfortable and affordable thermal underwear products. But, like so many other US manufacturers, they just could not continue to compete with the
manufacturers that sent their production overseas allowing them to cut their manufacturing costs and increase profits. The concept of cutting costs through cheap foreign labor is not new. The resulting domestic economic impact however is new for many US companies who have tried to remain true to their US employees. The bottom line is, outsourcing creates fewer winners and a whole lot more
losers. Sending labor to China and other foreign companies increases our
dependence on other countries. It also eliminates jobs here in the US. The outcome is wealthier manufacturers and jobless US laborers.