What must US do to create more local Jobs
The US has to learn from the past mistakes it has been doing in the last few decades during which time it has moved from being a net creditor nation to a debtor nation. During the same time, China has moved from nowhere to become the number one exporter and also the fastest growing economy of the world.
The key reason behind the US losing lot of jobs in the last one decade is the flawed industrial policies, wherein focus was on technology development and high end jobs, whereas China focused on providing more subsidy for exports and also research and development. China also entered the lower end production of all the materials across industries and it helped it to provide employment to millions of Chinese people in the last one decade.
So what the US has to do now is to focus and spend more money to subsidize the domestic industry and help them to operate their assets more effectively by providing export subsidies. That would in turn help US reduce the imports , increase the exports and also generate more local jobs.
Till US does this, there is no way for it to get out of the huge debt pile problem.
