|
If we learned anything from the pandemic, it’s how vulnerable our life and economy is in a world where we don’t make “necessary things” here in the United States. Consider the following demographic data points: China has a population that has aged much faster than our own, and a “one child” policy for decades is leading to their rapid decline. India has probably surpassed China as the most populous country in the world, but it lacks the industrial infrastructure to meet demand.
Additionally, according to this BBC article, "an estimated 12% of global trade passes through the Red Sea every year, worth more than $1 trillion. But many shipping firms have begun avoiding the area altogether" due to Houthi attacks in the Red Sea. This is creating longer shipping times and costly impacts as ships have to take longer and alternate routes to avoid conflicts. So, what does this mean for our manufacturing base here in Delaware, our region, and the United States? It means we’re about to embark on an industrial expansion not seen in our country in almost five or six decades, and we need policies that embrace this coming reality to position our state as a regional winner.
The opportunity is to double down on our manufacturing capabilities, where local workers can fill local orders for local customers. It means efficient capital and financing, local energy, less water, better environmental management, greater technological penetration, and more. When we’re done, we’ll have a supply chain largely immune from international shocks and a more diverse economy.
| 
