U.S. Factory Towns Laid Low by the ‘China Shock’ Are Benefiting From New Investments

Published On Nov 1, 2024, 5:03 AM

The article discusses how U.S. factory towns, particularly in North Carolina, are recovering from the economic decline caused by globalization, specifically the 'China Shock'. These towns are now experiencing significant investment in advanced industries like biotechnology, semiconductors, and electric vehicles, after years of factory closures. A report by the Brookings Institution highlights that nearly a third of the $736 billion pledged for domestic manufacturing in key sectors is flowing into areas that were previously hit hard by job losses. This signifies a potential revival of these communities through new jobs and investment.