forbes.com/sites/leesheppard … picks=true
The Economic Classification Policy Committee, a group of federal agencies, proposes to change the North American Industry Classification system, a classification system for data analysis by NAFTA governments, to amend the definition of manufacturing for many purposes, including labor statistics and economic indicators.
The object of this exercise is to reclassify companies that have outsourced production from the United States as US manufacturers. Some federal classification systems, including standard industrial classification, already do treat offshored manufacturing as US manufacturing. Public Citizen argues that the proposal would artificially reduce the manufacturing trade deficit while artificially raising the number of jobs classified as manufacturing jobs.
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US executives would be redefined as factoryless goods producers, increasing reported manufacturing wages. The fabrication activity in China would be redefined as a service. And the imported Chinese goods would be redefined as imported services. The policy committee hopes to get the EU to accept the products as US-manufactured exports.
They pretend to work and we pretend to tax them.
Sammy
July 11, 2014, 12:24am
2
dolanbaker:
US executives would be redefined as factoryless goods producers, increasing reported manufacturing wages. The fabrication activity in China would be redefined as a service. And the imported Chinese goods would be redefined as imported services. The policy committee hopes to get the EU to accept the products as US-manufactured exports.
Well, we already have a situation that Brazilian cattle reared in Brazil and killed in Brazil are considered to be “Irish beef” once the carcasses have been brought over from Brazil and cut-up in Ireland…
… pretend games like we have for primary school kids!.. a bit scary in one sense since it smells of desperation to pretend there is real “growth” everywhere…
