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If you look at a country's economy through the scope of five main sectors - giving broad examples here - from the bottom up: primary (agriculture), secondary (manufacturing), tertiary (services), quaternary (science), quinary (executive) then government sits at the top of the pyramid but -almost- regardless of what the current admin does, America is making itself 'great again' through maximium utilization of its geography, natural resources and innovative culture.
It has the most advanced services sector in the world, but it's the primary and secondary invigorated by an incomparable quarternary (do see below) that are responsible for bolstering and driving the inevitable geopolitical recalibration. From possessing the largest and most productive contiguous region of arable land mass in the world to being on the cusp of becoming the globe's top petroleum producer and exporter to the large-scale manufacturing reshoring and re-industrialization taking place.
The 'need' for a Transatlantic Alliance, Middle Eastern energy imports and Factory Asia's bottomless supply of cheap labor are all in the process of being gutted without mercy or exordium and it's only just getting started. A consolidated review of recent events, outlooks and facts - some previously provided by @Arkain2K.
Is this what a "decline" looks like?
Financial Times: US Set To Overtake Saudi Arabia And Rival Russia In Crude Output
US crude production is on course to overtake Saudi Arabia and rival Russia, the International Energy Agency said, as it revised higher its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts.
In its closely watched monthly oil market report published on Friday, the IEA said production growth was returning “to the heady days of 2013-2015”, even as the Paris-based body said global supply and demand would broadly find balance this year.
The latest body to raise US estimates, following the US energy department’s statistics arm and OPECs own research unit, the IEA said: “This year promises to be a record-setting one for the US.”
OP Citi: US To Become World's Top Oil Exporter
As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.
The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.
Gonna be a lot less than 11% with the way things are going.
OZY: The US Is Beating China On The Factory Floor. This Is Why.
What’s behind America’s new place at the front of the pack? It comes down to an ongoing economic boom that some analysts are calling “Manufacturing 4.0” or “Next Manufacturing.” Manufacturers are finding that the total cost of ownership (TCO) favors U.S.-based factory production, explains Harry Moser, founder and president of the Chicago-based Reshoring Initiative, a nonprofit think tank that supports U.S.-based manufacturing.
The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.
But it’s about big data and high-tech innovations, too. Manufacturing is increasingly using predictive capabilities to generate value and create more efficient, lower-cost logistics to handle materials throughout the supply chain. U.S. labor costs are still higher than those of other nations, but the ability to create smart products and smart factories will make this less relevant over time.
There are potential obstacles in the United States’ race to No. 1. For one, the continued strength of the dollar could dampen international sales of U.S. industrial exports. Smart factories need skilled labor, and the number of STEM graduates and “upskilled” workers who have received technical training may not be able to keep pace with demand. What’s not going to be a problem? Robots taking jobs. Thirty-seven percent of U.S. industrialists say their need for skilled labor will actually increase as physical production becomes automated, according to a recent survey by PwC.
Reshoring Initiative Data Report: Reshoring Plus FDI Job Announcements Up 2,800% Since 2010
In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017. In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals.
Oxford Academic: European Paradox or Delusion - Are European Science and Economy Outdated?
The European Union (EU) seems to presume that the mass production of European research papers indicates that Europe is a leading scientific power, and the so-called European paradox of strong science but weak technology is due to inefficiencies in the utilization of this top level European science by European industry. We fundamentally disagree, and will show that Europe lags far behind the USA in the production of important, highly cited research.
We will show that there is a consistent weakening of European science as one ascends the citation scale, with the EU almost twice as effective in the production of minimal impact papers, while the USA is at least twice as effective in the production of very highly cited scientific papers, and garnering Nobel prizes. Only in the highly multinational, collaborative fields of physics and clinical medicine does the EU seem to approach the USA in top scale impact.
Rolling 12-month Nature Index for high-quality scientific research publications, you can expect that lead to increase significantly over the next 12-18 months at minimum. Ideally, this figure would be closer to 18,000+ if not higher. Why? Because the March omnibus bill was the highest inflation-adjusted R&D investment in US history at the federal level.
It has the most advanced services sector in the world, but it's the primary and secondary invigorated by an incomparable quarternary (do see below) that are responsible for bolstering and driving the inevitable geopolitical recalibration. From possessing the largest and most productive contiguous region of arable land mass in the world to being on the cusp of becoming the globe's top petroleum producer and exporter to the large-scale manufacturing reshoring and re-industrialization taking place.
The 'need' for a Transatlantic Alliance, Middle Eastern energy imports and Factory Asia's bottomless supply of cheap labor are all in the process of being gutted without mercy or exordium and it's only just getting started. A consolidated review of recent events, outlooks and facts - some previously provided by @Arkain2K.
Is this what a "decline" looks like?
Financial Times: US Set To Overtake Saudi Arabia And Rival Russia In Crude Output
US crude production is on course to overtake Saudi Arabia and rival Russia, the International Energy Agency said, as it revised higher its 2018 growth forecast and stressed that “explosive” expansion in shale was offsetting OPEC-led supply cuts.
In its closely watched monthly oil market report published on Friday, the IEA said production growth was returning “to the heady days of 2013-2015”, even as the Paris-based body said global supply and demand would broadly find balance this year.
The latest body to raise US estimates, following the US energy department’s statistics arm and OPECs own research unit, the IEA said: “This year promises to be a record-setting one for the US.”
OP Citi: US To Become World's Top Oil Exporter
As global oil markets shift their attention from U.S. shale oil production back to a resurgent Saudi Arabia and Russia and geopolitical concerns bearing down on oil prices, Citigroup said last Wednesday that the U.S. is poised to surpass Saudi Arabia next year as the world’s largest exporter of crude and oil products.
The U.S. exported a record 8.3 million barrels per day (bpd) last week of crude oil and petroleum products, the government also said Wednesday. Top crude oil exporter Saudi Arabia’s, for its part, exported 9.3 million bpd in January, while Russia exported 7.4 million bpd, the bank added.
Gonna be a lot less than 11% with the way things are going.
OZY: The US Is Beating China On The Factory Floor. This Is Why.
What’s behind America’s new place at the front of the pack? It comes down to an ongoing economic boom that some analysts are calling “Manufacturing 4.0” or “Next Manufacturing.” Manufacturers are finding that the total cost of ownership (TCO) favors U.S.-based factory production, explains Harry Moser, founder and president of the Chicago-based Reshoring Initiative, a nonprofit think tank that supports U.S.-based manufacturing.
The domestic energy boom in natural gas and fracking has lowered the cost of materials and operations, prompting more factories to return to U.S. soil. Then there’s proximity to a growing field of local suppliers that provide raw materials. And keeping production in the country means there are no duties and tariffs, reduced inventory carrying costs and R&D innovations on the factory floor aren’t at risk of intellectual property theft. Also, the U.S. doesn’t have to lower its prices or wages to be competitive with China; it needs only “a lower total cost to produce that product,” Moser explains.
But it’s about big data and high-tech innovations, too. Manufacturing is increasingly using predictive capabilities to generate value and create more efficient, lower-cost logistics to handle materials throughout the supply chain. U.S. labor costs are still higher than those of other nations, but the ability to create smart products and smart factories will make this less relevant over time.
There are potential obstacles in the United States’ race to No. 1. For one, the continued strength of the dollar could dampen international sales of U.S. industrial exports. Smart factories need skilled labor, and the number of STEM graduates and “upskilled” workers who have received technical training may not be able to keep pace with demand. What’s not going to be a problem? Robots taking jobs. Thirty-seven percent of U.S. industrialists say their need for skilled labor will actually increase as physical production becomes automated, according to a recent survey by PwC.
Reshoring Initiative Data Report: Reshoring Plus FDI Job Announcements Up 2,800% Since 2010
In 2017 the combined reshoring and related foreign direct investment (FDI) announcements surged, adding over 171,000 jobs in 2017, with an additional 67,000 in revisions to the years 2010 through 2016. This brings the total number of manufacturing jobs brought to the U.S. from offshore to over 576,000 since the manufacturing employment low of 2010. The 171,000 reshoring and FDI job announcements equal 90% of the 189,000 total manufacturing jobs added in 2017. In 2017 announcements of combined Reshoring and FDI jobs were up 122% compared to unrevised 2016 totals and 52% compared to revised 2016 totals.
Oxford Academic: European Paradox or Delusion - Are European Science and Economy Outdated?
The European Union (EU) seems to presume that the mass production of European research papers indicates that Europe is a leading scientific power, and the so-called European paradox of strong science but weak technology is due to inefficiencies in the utilization of this top level European science by European industry. We fundamentally disagree, and will show that Europe lags far behind the USA in the production of important, highly cited research.
We will show that there is a consistent weakening of European science as one ascends the citation scale, with the EU almost twice as effective in the production of minimal impact papers, while the USA is at least twice as effective in the production of very highly cited scientific papers, and garnering Nobel prizes. Only in the highly multinational, collaborative fields of physics and clinical medicine does the EU seem to approach the USA in top scale impact.
Rolling 12-month Nature Index for high-quality scientific research publications, you can expect that lead to increase significantly over the next 12-18 months at minimum. Ideally, this figure would be closer to 18,000+ if not higher. Why? Because the March omnibus bill was the highest inflation-adjusted R&D investment in US history at the federal level.
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