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December 07, 2012 at 15:25 PM EST
Will Others Follow GE, Apple With In-Sourcing Trend?
MINYANVILLE ORIGINAL In the 1960s Harvard economist Raymond Vernon described a cycle of manufacturing that proved to be for a few decades at least very accurate. He predicted that with its wealth and technological prowess the US would hold an overwhelming advantage in making high-quality products. As the markets grew manufacturing would switch over to low-wage countries as increasing competition would make cost a more critical concern. This cycle of course came to fruition. But by the late 1990s with the Internet making globalization inevitable companies felt confident enough with communication technology to skip that first domestic production phase ...
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