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Economy
Commerce Sec Wilbur Ross sez coronavirus could help 'return of jobs to North America'
2020-02-01
[Washington Examiner] Commerce Secretary Wilbur Ross said China’s struggle to combat coronavirus could give businesses another reason to opt to move their companies to North America.

China has been fighting to contain the coronavirus, a highly contagious SARs-like illness, after an outbreak in the city of Wuhan. As global concern rises, some have suggested implementing a travel ban to China while others have halted all business travel to the region. During an interview on Fox Business, Ross, 82, claimed this outbreak gives businesses another reason to move production back to the United States or Mexico.

"First of all, every American’s heart has to go out to the victims of the coronavirus," Ross said. "So I don’t want to talk about a victory lap over a very unfortunate, very malignant disease. But the fact is, it does give businesses yet another thing to consider when they go through their review of their supply chain."

He added, "And top of all the other things, because you had SARS, you have the African swine virus there, now you have this. It’s another risk factor that people need to take into account. So I think it will help to accelerate the return of jobs to North America, some to U.S., probably some to Mexico as well."

At least 7,711 cases of coronavirus have been confirmed worldwide. There have also been 170 deaths connected to the disease, though some claim that may be a low estimate by the Chinese government. Sen. Tom Cotton, an Arkansas Republican, claimed the disease is actually "much worse" than what China has reported.

Related: Aljazeera - Coronavirus fears eclipse strong earnings to hammer global stocks
Posted by:Besoeker

#5  ^ Accelerate the Separate
Faster please
Posted by: Lex   2020-02-01 11:06  

#4  And our entangled economies have been growing farther apart in the past few years too, Besoeker. In 2003 China had much more of a manufacturing hold on us than it does now, but a lot of that has gone to countries near China with the ongoing trade and political spats we have had.

More separation is definitely needed and welcomed.
Posted by: DarthVader   2020-02-01 10:43  

#3  The current market downturn illustrates how wedded we have become to the Chinese.
Posted by: Besoeker   2020-02-01 05:10  

#2  If there is one country in the world that could go it alone, its the US. It wouldn't be perfect or efficient, but it can muddle through better than anyone else, if it had the will.
Posted by: Procopius2k   2020-02-01 05:02  

#1  He's not wrong. Just non-PC
Posted by: Frank G   2020-02-01 04:18  

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