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Manufacturing capability and infrastructure would be my guess. I guess if the trend continues and factories keep moving to India and Mexico, it might be a different game in 10 years.


Also automation might have a huge effect on this. It's expensive and slow to ship things all over the place.

We're not seeing that trend take off in a major way yet, but I think a lot of the raw ingredients are there.

https://fredblog.stlouisfed.org/2014/12/manufacturing-is-gro...




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