August 10, 2016 7:32 pm | Updated 2 months ago.
US citizens seem to be inordinately concerned with where their cars, clothing, and food are produced.
Approximately 80% of the consumers say they would spend money on American-made product over a foreign one, even if it is costlier. A reason for this might be the belief that buying American products is the easiest method to help the domestic economic system evolve.
The fact, however, is that in today’s globalized world most companies outsource varying quantity of their processes, whether it is U.S. organisations investing abroad or foreign-owned companies setting up United States.
This will make it difficult to determine what “Made in America” even means. And frankly, it makes no sense to try to decipher it out. On the other hand, it is essential to realize international investment flows and job construction are closely related—and the United States is a big beneficiary of this process.
The U.S. automobile industry is a ideal example of that. Many foreign automobile manufacturers actually produce vehicles here in America, and vice versa. The Toyota Camry and Honda Accord top the list of the 2016 American Made Index, which rates cars assembled in America based on what percentage of their parts are domestic.
As stated in the 2016 “International Automakers in America” report announced by Global Automakers, which represents many of the worldwide automakers that produce motor vehicles in the United States, “the growth of international automakers in the U.S. is an American success story.
Date of Publication: 8th August 2016