Ankur Crawford, portfolio manager at Alger, discusses the importance of domestic manufacturing in the US

During a recent appearance on “Bloomberg Technology”, Ankur Crawford, a portfolio manager at Alger, highlighted the need for tech companies to prioritize domestic manufacturing in the United States. Crawford emphasized the significance of reviving the manufacturing sector to drive economic growth and innovation.

The Importance of Domestic Manufacturing

In recent years, there has been a shift towards outsourcing manufacturing to other countries due to cost considerations. However, Ankur Crawford stressed the importance of bringing manufacturing back to the US. Domestic manufacturing not only creates job opportunities for American workers but also boosts the overall economy.

Moreover, by manufacturing products locally, companies can ensure better quality control and faster delivery times. This can lead to increased customer satisfaction and loyalty, ultimately driving business success.

The Need to “Start the Engine” Again

According to Ankur Crawford, tech companies need to “start the engine” again on domestic manufacturing. This means investing in infrastructure, technology, and skilled workforce to support a robust manufacturing ecosystem in the US. By reinvigorating domestic manufacturing, companies can reduce their dependence on foreign suppliers and mitigate supply chain risks.

Overall, Ankur Crawford’s insights shed light on the importance of domestic manufacturing for the growth and sustainability of the tech industry in the US.

How This Will Affect You

As a consumer, the emphasis on domestic manufacturing by tech companies could result in higher-quality products and faster delivery times. Additionally, it may create more job opportunities in the manufacturing sector, potentially benefiting the local economy and communities.

How This Will Affect the World

The revival of domestic manufacturing in the US could have ripple effects globally. It may lead to a shift in the manufacturing landscape, prompting other countries to reevaluate their own manufacturing strategies. This could potentially reshape the global supply chain and trade dynamics.

Conclusion

As Ankur Crawford rightly pointed out, the push for domestic manufacturing in the US is essential for the growth and resilience of the tech industry. By prioritizing local production, tech companies can not only drive economic growth but also contribute to innovation and job creation. The shift towards domestic manufacturing has the potential to impact both individual consumers and the global manufacturing landscape, signaling a new era of opportunity and growth.