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The Roundtable: On-Shoring Manufacturing

Can America reclaim its former role as a manufacturing giant?

This edition of the Roundtable Roundup brings together a panel of business, politics and finance experts to discuss current developments in global geopolitics, including China, the U.S. military and global trade. In this segment, they discuss globalization and the prospects for a revival of U.S. manufacturing. 

Patrick Robinson notes that the loss of manufacturing jobs was a bad trade for cheap products produced abroad.  

"We started leaning very heavy toward the cheapest, easiest, fastest, source [of products] and that hurt people," he says. "It isn't a fair [trade] to keep making things cheaper and cheaper for Americans who are losing jobs."  

"I don't think you can bring it all back, but I think there's a balance, and you see a lot of large companies now looking at their post-COVID infrastructure and saying, 'You can't stop us from being able to manufacture.' So we have to have a different system in place and maybe a little bit needs to be closer to home and still be balanced with something offshore." 

Marc LoPresti, of Moneta Advisory Partners, believes on-shoring manufacturing jobs begins with reinvestment by U.S. countries.  

"We have to be investing more in domestic manufacturing—in bringing the production of critical resources back on-shore," he says. "These are not, by and large, the highest paying jobs. The kinds of manufacturing projects I'm talking about will typically employ a lot of marginalized, unemployed, and underemployed people, which helps with a number of [social issues]."  

"At the end of the day, it all kind of ties together."

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Watch the full discussion below:

Roundtable Guests:

Matt Savoy, Founder, Free Thought Project

Patrick Robinson, Founder, Pashko

Marc LoPresti, Managing Director, Moneta Advisory Partners

General Anthony Tata, Retired Brigadier General, Founder, Tata Leadership Group