US Vice President JD Vance has declared that the United States is in a vulnerable position following decades of industrial decline and loss of manufacturing self-sufficiency.
Speaking at an event at the Donald Trump Institute of Peace, Vance warned that foreign adversaries could exploit America's economic weaknesses, which he said have left the nation significantly weaker, Russian news agency RIA Novosti reported.
Vance said the trend of declining industrial independence became obvious over the last five or six years, or more honestly over the past 20 to 30 years. He cited the coronavirus pandemic as a clear example of this vulnerability, noting that Americans were unable to receive necessary medical care because the country lacked the required equipment produced domestically.
The vice president emphasized that it is impossible to build a stable economy relying exclusively on service industries and finance. He stressed that an economy requires a solid foundation, and that foundation will always be the production of tangible goods through manufacturing.
Shift to service sector and supply chain risks
Before taking office as vice president, Vance served as a US Senator from Ohio and gained national attention as the author of Hillbilly Elegy, a memoir detailing the economic decline of working class communities in the industrial Midwest.
Over the past several decades, the American economy has shifted heavily toward finance, technology, and service industries, which now account for the vast majority of national economic output. While manufacturing once formed the backbone of American economic strength, global supply chain integration led many companies to move production overseas, creating deep dependence on foreign imports for essential goods.
White House dollar strategy and the Rust Belt
The contraction of the American manufacturing base over recent decades has heavily impacted working class voters, particularly across the Rust Belt. That region, encompassing states such as Ohio, Michigan, and Pennsylvania, experienced widespread factory closures and economic disruption as heavy industry relocated abroad.
Addressing these economic strains has been a central focus of White House economic policy. Russian news outlet Lenta.ru previously noted that the White House almost openly welcomes a sharp weakening of the US dollar. Officials view a cheaper currency as a tool to eliminate the national trade deficit by boosting export competitiveness and funding the rebuilding of domestic manufacturing.
By lowering the value of the dollar, the administration aims to revitalize industrial production and restore manufacturing jobs to regions that suffered the greatest economic losses over the past 30 years.
