| Economic theory holds that manufacturing industry is important as the outcome of industrialization and the measure of a country's economic development mark,reflected the core competence of the country.The great progress made by American manufacturing in the period from 1948 to 1973 not only laid the foundation for creating the world's first veritable mass consumer society,stepping on the peak of industrial production and triggering the explosion of computer technology.Moreover,great breakthroughs have been achieved in technology and organizational work,and many new production processes and products have been introduced first,which have brought profound impacts on global industrial production,economic growth and social changes.However,since the late 1960 s,many American multinational companies began to transfer their production capacity to developing countries,that is,to transfer some or all of their manufacturing activities to developing countries and regions with lower production costs.As a result,"hollowing out" of American industrial structure emerged.After the first oil shock in 1973,the US economy experienced a slowdown in growth,a decline in manufacturing investment and a decline in industrial productivity.The economic rise of Japan and federal Germany,currently being supported by the United States during the cold war,has caused the manufacturing industry to become so competitive in export markets that the industrialization currently being experienced is causing the re-industrialization being experienced in the United States.When the U.S.economy into recession in 1990,the manufacturing of the after-tax profit fell to $110 billion,the U.S.government to focus on manufacturing the core position in the national competitiveness,thus determines the "how to revive the American economy" as republicans and Democrats in the 1992 presidential election in one of the focus of the debate.The global financial crisis in 2008,which was triggered by the us subprime mortgage crisis and called by economists as the "future-changing financial crisis",fully proved that the excessive innovation of American finance since the 1980 s and the resulting development of economic financialization could not be sustained.To this end,President Obama launched the strategic Revitalizing American Manufacturing in April 2009.In December the same year,the U.S.government announced the "A Framework for Revitalizing American Manufacturing",namely through the development of national innovation strategy and legal Framework and other measures to promote the U.S.Manufacturing industry innovation,research and development as well as the technical upgrading of the labor force.With the campaign slogans of "make America great again","America first" and "buy American,hire American",trump was successfully elected as the 45 th President of the United States,which to some extent reflects the "profound contradictions and challenges facing the United States"."Revitalizing American manufacturing" has thus become a central part of the trump administration's economic strategy.Based on the inspiration of the global financial crisis in 2008 and the basic experience of global financial development,a country's finance and the real economy should be interdependent and mutually restricted.This relationship determines that the development of the financial industry must match the development of the real economy.Any financial development that is too advanced and divorced from the development of the real economy will lead to economic and financial bubbles,which will weaken the foundation of a country's real economy and eventually lead to financial crisis and economic crisis.Therefore,based on the development of manufacturing industry,should be the basic national policy of China's economic development.China has been a follower and imitator in the first three industrial revolutions.Now that China is the world's second-largest economy,it should strive to be a major player and protagonist in the fourth industrial revolution.Therefore,it is of great theoretical and practical significance to deeply study the development strategy of American manufacturing industry after the global financial crisis.Chapter One is the introduction.From the perspective of the historical evolution of the manufacturing industry in the United States,this paper expounds the research background,theoretical significance and practical significance.This paper reviews and evaluates the related research results,and introduces the research ideas,research methods,structural arrangements,and major innovations and deficiencies of the paper.Chapter Two examines from a historical perspective how the United States developed from a primitive agrarian economy to the world's largest industrial country in just 118 years,thus creating the miracle of human history,and then became the world's most economically developed country in just half a century.It is revealed that after the rapid development of the manufacturing industry in the post-war period,the industrial structure of the United States changed from manufacturing industry to service industry and from capital and technology intensive to knowledge intensive,which is the objective requirement and inevitable result of the transformation of domestic demand structure,technological progress and international market competition.Chapter Three analyzes the excessive development of the US financial industry since the 1970 s and the declining proportion of the real economy represented by manufacturing industry in the national economy,which leads to the increasing imbalance of the entire economic structure,especially the excessive development of economic financialization.It is pointed out that the unbalance of economic structure is an important reason for the United States to fall into the sub-prime mortgage crisis and cause the global financial crisis.The crisis not only had a profound impact on the US economy,but also had a significant and far-reaching impact on the global economic and financial landscape,which became an important macro background for the Obama administration to implement a series of national strategies in 2009,including the strategy of "revitalizing the US manufacturing industry".The core ideas and measures of the " revitalizing American manufacturing" strategy mainly focus on six aspects,including tax incentives,technological innovation,export promotion,support for small and medium-sized enterprises,improvement of the education system and increase of infrastructure investment.New energy,advanced manufacturing and other fields have become the focus of this strategy.Since taking office,the trump administration has tweaked the Obama administration's strategy of "revitalizing American manufacturing." It is mainly reflected in two aspects: one is to provide tax incentives for the return of manufacturing capital to the United States through the reform of the tax system;Second,adjust trade policies,hold high the stick of trade protectionism,oppress trade rivals and even force the US to correct its trade imbalance by means of "trade war",so as to create a favorable environment for restoring manufacturing competitiveness and boosting manufacturing exports.Chapter Four of the dissertation first analyzes the “Strategy for American Leadership in Advanced Manufacturing” report.Subsequently,it analyzed the impact of the “revitalization of manufacturing strategy” on the US economy;it focused on the impact of the global manufacturing return wave on the world's major economies(US,Europe and Japan).On this basis,an empirical analysis of the return effect of manufacturing in the world's major economies(US,Europe and Japan)was conducted.Use the Difference In Differences(DID)to evaluate the effect of “manufacturing reshoring” in developed countries.It is pointed out that from a global perspective,the “manufacturing reshoring” policy has enabled the US,European and Japanese countries to change their economic development before and after the implementation of the policy;on the other hand,it has made the implementation of the policy different from the countries that have not issued corresponding policies.Although the US,Europe and Japan's national manufacturing return policy assumed the heavy responsibility of economic recovery after the financial crisis,and also supported by the anti-globalization trend,the essence of corporate profit-seeking,the existing global production network and the law of industrial transfer and development led to manufacturing.The effect of the return policy has been greatly reduced.Chapter Five expounds some thoughts on the development of Chinese manufacturing industry.In terms of the international background of China's manufacturing transformation,this paper analyzes the international background of China's manufacturing transformation from the perspective of "high-end extrusion" of developed countries and "low-end extrusion" of emerging economies.Developed countries represented by America,its relatively complete manufacturing system,and in the international market manufacturing competitiveness is relatively strong,the 2008 financial crisis led to the wave of industrialization are pushing its from "manufacturing power" to "manufacturing superpower",the development of China's manufacturing industry is concerned,the strong competitive threat.At the same time,the manufacturing industry of emerging economies has enjoyed a strong momentum of development,with prominent comparative advantages.In the global low-end manufacturing sector,China's manufacturing industry is being squeezed out at a lower cost.In terms of the transformation of China's manufacturing industry,this paper makes a detailed analysis of the transformation of China's manufacturing industry from the aspects of attaching importance to the cultivation and construction of core competitiveness of manufacturing industry,improving technological innovation ability from the perspective of innovation ecosystem construction,promoting the integration of information industry and manufacturing industry,and coordinating industrial policies and competition policies of China's manufacturing industry.Chapter Six is the conclusion and prospect of the dissertation.The author believes that "revitalizing American manufacturing" will be a long-term economic development strategy of the US government.The manufacturing industry in the United States has its own unique development advantages,that is,the United States not only has a strong national innovation system,its manufacturing enterprises have a strong technological innovation capacity;It also has the world's most developed capital markets and producer services.To this end,it is certain that adherence to this strategy will continue to make U.S.manufacturing the world's no. |
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