On the Harvard Business Review blog Harold Sirkin and Richard Lesser argue that America is â€śpoised for a manufacturing renaissanceâ€ť and offer seven recommendations to improve U.S. competitiveness including:
1. Political leaders from both parties should use the bully pulpit to educate the business community and the public on the new math of global manufacturing.
2. The government needs to reform the U.S. tax system, then leave it alone for a while. The U.S. tax code currently is a deterrent to businessâ€¦
3. Washington needs to get serious about leveling the playing field. While there's always risk of a trade war, all countries need to play by the same rules â€” and government's job is to enforce those rules.
4. The government needs to rethink regulationsâ€¦ The speed of our regulatory processes must also be addressed; excessive delays encourage shifting investments to other locales.
5. The government needs to focus on talent development to ensure that Americans are prepared for the 21st century workplace. This is an area where we need to think strategically.
6. Washington needs to focus on infrastructure. Every infrastructure problem â€” decaying bridges, congested highways and ports, overcrowded airports and outdated air traffic control systems, weaknesses in the electric grid, and inadequate broadband spectrum â€” costs us dearly.
7. Washington should encourage foreign companies to manufacture in the United States. TheUnited States offers the lowest-cost manufacturing platform in the developed world today.
Their full post can be found here.