Low prices would compensate for lost capacity, and above all, that other countries would treat our firms as fairly as we had treated theirs. Of course, those assumptions failed to materialize fully. Some slowly, others all at once. In recent decades, we've watched strategic industries migrate abroad. Critical supply chains concentrate in jurisdictions that do not share our interests. Foreign subsidiaries forced technology transfer, discriminatory taxation and non market practices, discord, competition and American firms grow to global scale, only to become targets of policies designed to constrain or replace them. (07:44–07:49)
CLAIM
Asserts that strategic industries have moved out of the United States in recent decades.
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