Unlocking Word Meanings
Read the following words/expressions found in today’s article.
1. manufacturer (n.) – a person or a company that uses machines to make large amounts of goods or products
Read the following words/expressions found in today’s article.
1. manufacturer (n.) – a person or a company that uses machines to make large amounts of goods or products
Example: Honda is one of the world’s largest automobile manufacturers.
2. executive (n.) – someone whose job is to run the company or to manage and direct other people in the company
Example: The executives are in charge of deciding the company’s goals and long-term plans.
3. plant (n.) – a factory or a building where goods are produced
Example: The class toured an auto plant to see how cars are made.
4. de facto (adj.) –existing in fact or reality but not officially accepted
Example: He is the de facto group leader, even though other group members do not recognize him as their leader.
5. recession (n.) – a period in which economy is down, and many people do not have jobs
Example: Jobs are hard to find during a recession, as many businesses stop hiring to save money.
Article
Read the text below.
A survey says many large US-based manufacturers are open to the idea of moving production back to the US. The Boston Consulting Group (BCG) surveyed 106 US-based manufacturing executives and found that 48% of companies with over 10 billion USD in earnings are considering “re-shoring” or moving operations back to their home country. With wages in China now rising, the country is losing its low-cost advantage. The US, on the other hand, is considered by some companies to be a de facto low-cost country, because of its high unemployment rate. US wages are also usually lower than the wages in Western Europe and Japan. As a result, even European and Japanese companies are likely to export from US plants. Two million US manufacturing jobs were lost during the 2007-2009 recession. BCG thinks that if the cost of manufacturing in the U.S. becomes equal or lower than in other countries, up to 3 million manufacturing jobs could be created in the U.S. by 2020. But if the value of the US dollar suddenly rises, then “re-shoring” might slow down. Others say investments in plants overseas are still growing and that re-shoring is not common. Furthermore, there is still a big lack of skilled people in the US who can do manufacturing jobs. Manufacturing executives say emphasizing science, technology, engineering and math in schools might solve the problem. |
Viewpoint Discussion
Enjoy a discussion with your tutor.
Discussion A
· What advantages does a company have if it manufactures products in its home country?
· What do you think about products made in your country compared to products made from other countries?
Discussion B
· What subjects do schools emphasize or treat as important in your country? (e.g. math, science, etc.) Why are these subjects important to learn?
· Will focusing on these subjects help people get the most in demand or needed jobs in your country? Please explain your answer.