Problem is you're not competeting against low wages. You're competeting against automation.
The folks who move production off-shore are just doing so because right now it's cheaper then the capital investments in automated equipment.
Toyota's plant under construction currently in Alabama, originally for Highlanders but as I understand it being reprogrammed for a new hybrid, will employ 2,000 workers. Making 150,000 cars/year. Pretty amazing, huh?
For the last two decades, the general trend each year has been for efficiency (productivity) to increase 3% per year, while U.S. Industrial Output has grown 1% per year. Yes, it has been growing folks. Problem is, in simple numbers, if you only grew output 20% in two decades but improved efficiency 60%, you can sack 40% of your workers since they're no longer needed.
Companies making fairly complex stuff -- not the handpainted curios and such -- face a pretty simple decision. They can spend their money investing in newer, more automated equipment; or they can spend their money to move the factory and ship goods from a lower wage country. In either case, most of the jobs that went into manipulating materials and assembling them in the U.S. are going to disappear.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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