Rowan argues the U.S. cannot be a low-cost manufacturing center without massive immigration.
“To the extent we do not want massive amounts of immigration, we are not going to be the low cost manufacturing center for low value goods.”
Rowan says the U.S. won't manufacture low-value goods like sneakers given 4% unemployment and other priorities.
“we are not going to make sneakers in The US. We have 4% unemployment. We're building all these other things.”
Rowan argues US and Mexico should dominate economically for fifty years with US manufacturing and Mexico as workshop.
“The US and Mexico should be positioned to dominate the economic landscape for the next fifty years. US advanced manufacturing, Mexico the workshop, and so on and so on.”
Rowan predicts large manufacturing and consumer companies will remain private in the future.
“It will not surprise me to have large manufacturing consumer companies that are private in the future.”