This is one of those reports that remind us that increasing manufacturing in the U.S. should be each and every president's goal. The fact that so much what we buy here in America is made in another country because in 2010, China displaced America as the largest manufacturing country in the world.
The Congressional Research Service reported in January 2017, the most recent of its type of report, that "Manufacturing output, measured in each country's local currency adjusted for inflation, has been growing more slowly in the United States than in China, South Korea, Germany, and Mexico, but more rapidly than in most European countries and Canada."
The Wall Street Journal published a piece on March 10, with the headline of "Two Canals, Two Big Problems—One Global Shipping Mess," and a sub-header stating "Drought in Panama and Houthi attacks in the Red Sea are delaying deliveries and pushing up costs."
Over 7,000 miles away, vessels that move containers through Egypt’s Suez Canal are waiting for naval escorts or avoiding the passage altogether to take a much longer voyage around South Africa. Ship operators fear that their crews could be imperiled on the journeys through the Red Sea by missile or drone attacks from a Yemen-based rebel group.
The Suez’s problems are geopolitical and those in Panama are climate-based, but both are roiling global trade. Cargo volumes through the Suez and Panama canals have plunged by more than a third. Hundreds of vessels have diverted to longer routes, resulting in delivery delays, higher transportation costs and economic wreckage for local communities.
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