By John Tamny of Forbes
“For one particular car produced by an American manufacturer, for example, 30 percent of the car’s value is due to assembly in Korea, 17.5 percent due to components from Japan, 7.5 percent due to design from Germany, 4 percent due to parts from Taiwan and Singapore, 2.5 percent due to advertizing and marketing services from Britain, and 1.5 percent due to data processing from in Ireland. In the end, 37 percent of the production value of this American car comes from the United States.”~Douglas A. Irwin, Free Trade Under Fire
With birthrates falling in wealthy nations, there’s a growing perception that those countries face a somewhat darker economic future for their perceived child deficits. The thinking is that with less people working and producing, countries with falling populations will see economic output drop due to a lack of young, able-bodied workers.
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