Most Americans are concerned with jobs but let us not forget what we could be giving away in the process.
China wants a piece of GM and India wants MGM. This give a new meaning to made in America and money sent overseas.
The official signing Wednesday of a partnership between China's state-owned Anshan Iron and Steel Group Corp. and a U.S. startup could put the rest of the U.S. steel industry at an extreme competitive disadvantage, say critics.
But the U.S. manufacturing partner Steel Development Co. LLC says a plan to build a reinforcing bar mill in Amory, Miss., will create jobs in an economically depressed state and produce steel in an efficient and environmentally friendly way.
"In reality we are creating jobs in a high-unemployment state that needs those jobs," says Mark Bula, Steel Development's chief commercial officer. "Those are high-paying manufacturing jobs. It's not easy to relocate those jobs. They're going to be there for the long term. And I think more importantly we're heeding the call of President Obama to modernize and make more efficient U.S. industry."