> Manufacturing has disappeared as a share of GDP, but that's not because we make less stuff.
We assemble. The actual parts are largely made overseas.
Because location matters, assemblers in China are able to do better work at a much lower price, see every Chinese EV company, or Chinese drone companies.
Heck in China you can buy a competent Chinese EV motorscooter for less than a kids bicycle in America.
> We assemble. The actual parts are largely made overseas.
It really depends on the product and the supply chains involved. Lots of parts make trips through multiple countries, and even the US multiple times.
But yes, I agree that agglomeration matters a ton.