The China Juggernaut: We Must Outdo It to Revitalize New Jersey

China City Woos Apple Supplier With Workers, Low Wages – Bloomberg.

The article quoted is a must-read.

Getting the manufacturing facilities of a corporation such as Apple or the one mentioned in this article, Foxconn Technology Group, could turn around the fortunes of New Jersey. The question is how to attract them here.

Notice that Foxconn is not alone in its eternal quest for margins. Intel, Apple, Ford, GM, etc are all already in China, but even the relatively low wages of the China coast seem too high for them and they are now contemplating relocating to Vietnam, or Bangladesh. What the the city of Zhengzhou is trying to do is what we must do here in New Jersey.

But of course we can not bring down wages here to the levels of hinterland China – or Vietnam and Bangladesh for than matter. So we must be more creative in our approach. That is why I have presented in my political/economical/taxation plans what may seem an extraordinary overhaul of everything at first impression but happens to be absolutely indispensable unless we accept descending to Third World standards of living.

The fact is we must overhaul our tax and political systems if we want to turn the tide to our favor. We can not count on the federal government so we must do our own reform here in New Jersey. Do not count on the two dominant political parties either. They are the ones that have created this mess and they live well regardless of what happens around them.

It is not only about attracting new corporations; it is also about retaining those we still have here.