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In the wake of the referendum vote, a string of car companies and other major firms have hinted that they could review their investments in the UK, adding to concerns that manufacturing faces extra barriers to trade at a time when the sector is already weak.
In the longer run virtually all manufacturing faces an equalisation of factor prices due to the globalisation of trade, a process that will keep pushing American prices and wages well below our current middle-class levels.Edwin Reubens Emeritus professor of economics City University of New York Weston, FloridaSIR – The 1950s and 1960s were the high-water mark for the American worker.
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With the advent of the internet age, manufacturing enterprises face new challenges and opportunities in the competitive globalized local and global market.
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Increased global competition and unpredictable market changes are challenges facing manufacturing enterprises.
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