Tell people something long enough and eventually it seems to become the truth – even when it isn’t.

Many folks in America will tell you the economy is somewhere between downtrodden and destitute, for instance, despite all the evidence to the contrary. It’s largely the result of a mainstream media that seems intent on giving the economy short shrift.

And so it goes with the U.S. manufacturing industry. Talk to the average person on the street and they’ll tell you U.S. manufacturing is dead. Worse yet, talk to many people in the industry – people who should know better – and they’ll tell you only a slightly less depressing story. It’s almost as if they’ve given up.

They’re wrong.
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“In this paper he is examines the factors leading to a reduction in manufacturing job worldwide. He concludes that job losses are mainly due to increased manufacturing productivity (worldwide, manufacturing productivity is increasing and jobs are decreasing – including China).” China is losing far more manufacturing jobs than the USA (and they are rapidly growing the manufacturing output).

There are real macro economic changes taking place but the belief about those changes is not very accurate.