. >> during the 1990's, the textile industry in the american south disappeared almost entirely. now there is hope for a rebirth. i really think it is a blessing that this plant has opened here. >> the gap between u.s. and chinese wages has narrowed over the years. earning 11rkers euros an hour here, versus what he would pay in china. transport costs, u.s. production is suddenly be attractive option. even america's car manufacturing sector is feeling the effect. he has 30 art of parts factories in the u.s. -- he has 30 auto parts factories in the u.s. chinese media runs stories of his success -- a chinese car made in the usa. much quicker.t we can avoid the risk of the logistics of coming across the ocean. chinese investments in the united states doubled to 18 billion euros. it is a new record and a new page in the side of globalization. stephen: let's check what is happening on the markets. european shares trading up at this midpoint in the trading day . in the u.k., inflation hit its highest level in more than two years, driven by rises in the place of clothing. gains onll seei

. >> during the 1990's, the textile industry in the american south disappeared almost entirely.now there is hope for a rebirth. >> the plant is open here and brought all these jobs. >> the gap between u.s. and chinese wages has narrowed over the years. he's paying 11 euros here versus the five euros he would pay in china. when savings on transport costs are factored in, u.s. production is suddenly the attractive option. even america's carmen you factoring sector is feeling the effects. they have 34 auto parts factories in the u.s., and chinese media runs stories of his success. a chinese car made in the usa. >> you can react much quicker. your customer will feel more confident. >> last year chinese investments in the united states doubled to 18 billion euros, a new record and a new page in the saga of globalization. america's first offshore wind farm is up and running. the $300 million block island wind form located off the -- wind farm off the coast of rhode island will send energy across new england. when forms have not yet taken coal -- taken hold in the u.s. itself willd far

the election. trump, hopefully will restore some industry to the united states. payice sector jobs do not as much as a textile industry or the fashion industry. and we know it. suffered as a result. that is why our employment rate has increased. 5.1%, it's not. there are millions of people who do not declare that they are unemployed or who have gone on unemployment. and we have the clintons to thank for this. good riddance. host: can i ask, obviously not a clinton supporter. were you a bernie sanders supporter? caller: yes, i would have liked bernie sanders to have won. should haveton stepped aside. she had too much baggage to carry. she shouldn't have allowed bernie sanders -- she should have allowed bernie sanders to take the lead but he lost because he couldn't get the democratic vote because he was not a democrat. -- democrats were not all to vote in that primary. and that is why he lost. but he would have been much better than trump on this issue. -- er: host: talking about the north american free trade agreement. let's go over some of the stats on it to explain what it is that we will be talking about a

very similar, the textile industry in south carolina was hit hard. we had to pay the and pivot to -- pivot, and pivot to other types of the industry. tourism became one of them. some manufacturing has come back, but we also -- when the three of us spoke to our friends at afl-cio, i mentioned that we do not have very many unions in the south. there is union presence down there, but it is very, very small. it is a very small footprint. then we have, at the same time, we have unfettered demonization of folks who work, who are union members by our leadership. nikki haley has called union members thug and everything else. as my grandmother would say, everything but a child of god. it is hard to push back. this is what my message was to our friends in the unions and in the labor movement's. y'all have to help us. it is hard to push back against that if you are not down there and working with us. if you are not trying to grow that area. many of the pain that you guys are feeling either pains that we are also feeling in the south. i can say this, you guys kno

the textile industry in south carolina was hit hard. so we had to pivot and pivot to other types of industries, tourism became one of them. now some manufacturing has come back but you know, we also at the same time, when we spoke, when the three of us spoke to our friend at afl-cio, i mentioned this, is that you know, we don't have very many unions in the south, and there is union presence down there but it's very, very small. it is a very small footprint. at the same time we have unfettered demonization of folks who work, who are union members, by our leadership. nikki haley has called union members thugs and everything else. as my grandma would say, everything but a child of god. and you know, it's hard to push back, and this is what my message was to our friend in the union, in the unions, in the labor movement, that y'all got to help us. it's hard to push back against that if you're not down there, if you're not working with us down there, if you're not trying to grow that area. so many of the pains that you guys are feeling that a

industrialized agriculture is it not batch natural phenomenon and the movement of industrialization toward everything because the fact that we are an urbanized society now. >> host: >> guest: course we have industrialization of textiles and other manufactures since the 1900s. the industrial production of the first cars from across man operation. but it was vastly sped up so the first event which we can call the precursor event for chickenizing and i do give homage to arthur w. perdue because he's the one who do get this all out really. >> host: he was the father the company which is now his son and his grandson. you see them on tv and they have these very human commercials that they run. >> guest: writes but the interesting thing about them which is kind of a common trait for people who are in her graders in industry or in production is that he was not a farmer. he had absolutely no contact with any farming operation. he lived on the eastern shore of maryland right in the heart of delmar. i think and i propose his connection with transportation was key because we are now talking about the late 1920s where we are to have the federal government investing in a national highway system and we have the urbanization of the

new metown of patterson, jersey, formerly the hub of the manufacturing textile industry, which no longer exists. so why are we subsidizing it? hy are we subsidizing american companies to move to other shores? and that's what we're doing. right now when companies move overseas, they can take a tax deduction for the cost of the move. that's a huge tax break. how do we defend it and why do we defend it? so the bill that the ranking member referred to eliminates this tax deduction and gives a tax credit of up to 20% the cost of moving businesses -- bring businesses back to the united states of america through u.s. companies. that seems to me to make more sense. why are we paying folks to leave when we could be paying them to get back into this country? i don't know how you disagree with that. the companies would have to add jobs to claim the tax credit. that's the caveat. i think it works. i ask you to consider it. let's stop subsidizing companies that ship jobs overseas and start bringing jobs back to our shores. and let's stop talking about it. let's do something about it. mr. speaker, it

the textile. my mother was 18 when she came and spent 50 years working the night shift in textile mills. that was then a substantial industry in new england. it's now long since gone, but the fist time i was asked to go there was by president clinton and it was following the effort in northern ireland where i had spent five years initially at president clinton's request, so i think the principal reason the president asked me to chair the international commission beginning in 2000 ending in 2001 was because of the experience that we had together not only senate majority leader during presidency but then in northern ireland. i think that was the principal reason. >> host: did that experience translate to the middle east? my guess is the middle east is a very different place. >> guest: far more different, far more difficult. just about a year ago i spoke to a large group of irish americans in new york and i told them i'm about to say something i've never thought i would believe or ever say publicly but after five years in northern ireland, i thought it was very tough. then i went to the middle east twice and now the irish seem

the movement towards industrialized agriculture is a natural phenomenon for the industrialization of everything because the fact that were in urbanized society now. >> guest: to some extent yes. we've had urbanization of textiles and other things and obviously hungry for it the industrial production of the first car. away from the cressman kind of operation where we built buggies and horse and carriage. it was a vastly speed to all. the first event which was the precursor event for chicken is asian and i do give homage to other purdue because he figured this all out. >> host: he was the founder of the company which is now his son and grandson and you can see them on tv in these very human commercials that they run. >> guest: the interesting thing about him which seems to be a common trait for people who are innovators in industry or production is that he was not a farmer. he had no contact with raising poultry or any farming operation. he lived on the eastern shore right in the heart of delmar about. he was a railroad clerk. i think it i propose that his connection with transportation was key. we're not talking about the late 20s where you have the government investing in highway system and you have the railro

. >> think of how many industries have gone priced out of the u.s. market from textiles to steel manufacturing. you could go down the list in the annals of industry. >> but if you create an environment, and we have heard this from countless business leaders, not just from utx, that you incent companies to actually pay their workers more, be more efficient. by the way, it still may mean less jobs. whether it's tax policy which has to change and sounds like it will, and that's good news, i think you're making an environment where companies can be more competitive here. but it doesn't mean you keep jobs here at all expense. >> and then punish them if they can't be here. >> and the tax change is two-fold. not just the corporate rate here. it's the potential repatriation and what that looks like, making us relatively more competitive in the world, which we are not. so that's one thing. i think the health care thing -- that's been a big -- a big cost. i don't know how they're going to address that. we haven't really heard anything yet. but it's interesting to see this sort of

but we've seen entire economic regions like in the southeast that were dominated by a very vibrant textile industry. we've completely lost our textile industry. and we see that a just as consumers. our clothes don't last as long. it all all used to be made in places like north george and it's entirely localized. >> that is the ultimate job that the president wants to get to right from day one. he wants to add jobs and you got to hope that he can follow through. brad, jessica, thank you very much. >> thank you. >> thanks. >>> we're moments from a briefing in oakland following a devastating warehouse fire there. at least nine people have died and officials there say the death toll will likely rise. more on this breaking news right after this. ♪ p is for privileges. o is for ordinarily i wouldn't. l is for layers of luxury. a is for alll the way back. r is for read my mind. and i... can't see a thing. s... see you in the morning. polaris, from united. g new cars. you're smart. you already knew that. but it's also great for finding the perfect used car. you'll see what a fair price is, and you can conn

the south as well. very similar. textile industry in south carolina was hit hard and so we have to pivot into the two other types of industry and tourism became one of them. now, some manufacturing has come back, but we also at the same time and when we spoke, the three of us spoke to our friends and i mentioned this, we don't have very many unions in the south and there is union presence down there, but it's very very small. it's a very small footprint and then we have at the same time we have unfettered demonization of the folks who work, who are union members by leadership. nikki haley has called union members thugs and everything else. as my grandma would say, everything but a child of god. you know, it's hard to push back and this is what my message was to friends in the union and the labor movement, that-- that y'all got help us. it's hard to push back if you are not down there and working with us down there, if you are not trying to grow that area. so, many of the pains you guys feel are the pains we also feel in the south and

simply the sheer output in terms of the numbers of tons of steel or the number of square meters of textile, russia built sizeable industries and at a certain , point in time, that shows up as strong economic growth. that did not translate at all into benefit for russian consumers. and i think that is an important point to make. the russians were good at one aspect of this, building an industry. they were terrible at another aspect of this, which is making things people actually wanted to buy, which you have to do in a market economy and didn't have to do in a communist economy. host: in terms of the comment from elizabeth warren about productivity growth, i think the point, as i understand it, and i have not read her book, i think the point the fruits of u.s. productivity growth haven't been shared evenly, that is a fair point. guest: i think that is accurate. this is a question for our political system. i do want to point out, as i said earlier, that this gets much tougher when productivity growth is slow and economic growth is slow. when economic growth is fast, there is plenty for me and plenty for you, and we can all s

the textile mills that were booming at the time. my mother was a teen when she came and shortly after she spent 50 year15 years working the nigt shift. that was then a substantial industry in new england and of course it is now since gone. the first time i was asked to go there was by president clinton where i had spent five years initially if president clinton's request so i think the reason the president asked me to chair the commission beginning in 2000 was because of the experience we had together not only when i was the senate majority leader during the presidency but then in northern ireland. >> host: did that experience translated to the middle east might guess is the middle east is a very different place. >> guest: just a year ago i spoke to a large group in new york and i told them i'm about to say something i never thought i would believe or say publicly that after five years in northern ireland, i thought it was very tough. then i went to the middle east twice and now they seem very easy to work with. >> host: northern ireland and ireland is a western countr wesy into the middle east is the least. somehow i would just assume it was a much harder set of people

more of we're not exporting jobs and manufacturing and textiles and cars and automotive industry out of this country, but this is a place that becomes the place where people want to do business because it's a business friendly environment. the other thing i want to say is that i saw a little bit of the white house's response to this that was petty to the families that are happy to have family with jobs and loved ones to be employed, it does mean something. the 1,000 to 1,100 does mean something especially when you saw this administration spending billions on phoney green energy jobs. >> it is a lot like picking winners and losers by using tax incentives. you're bribing somebody with their own money. why is manufacturing the sector losing jobs. because the manufacturing sector is doing better with less and the reason why is robots. robots is the radical islam of 2016. nobody wants to say it. technology advancement is responsible for 85% of all manufacturing job loss. so right now this is -- this feels good. it's an emotional symbolic victory but you put a band-aid on a tumor. we have to think about trade schools that teach people how to

he comes down south and go to areas where the sv textile and stuff like that, all of those towns are just about wiped out. the problem is that the service industry has become so strong in this country, from cnbc, 12% of its economy is in manufacturing. most of that is in service. and one of born these towns, you really have no way of getting away from it. cnbc also reported that 10% of the population owned 80% of all the stocks out there. 2% of the population owned 60% of everything. add into this automation. add into this what appears to be then taking jobs away. it is so sad, they're not going to be able to bring a lot of these jobs back, no matter what they say. the situation is this -- you go to china, you buy for a penny, you come back to america and sell it for a dollar. that is not going to change. it is all smoke and mirrors. i feel sorry for some of these people that are here because there is no hope for them, and it is not going to come back. host: jim, thank you. you make a really important point about automation and driving some of the job losses. we have had disruption in the past in the american economy, and the choice has always b

he comes down south and go to areas where the sv textile and stuff like that, all of those towns are just about wiped out. the problem is that the service industryas become so strong in this country, from cnbc, 12% of its economy is in manufacturing. most of that is in service. and one of born these towns, you really have no way of getting away from it. cnbc also reported that 10% of the population owned 80% of all the stocks out there. 2% of the population owned 60% of everything. add into this automation. add into this what appears to be then taking jobs away. it is so sad, they're not going to be able to bring a lot of these jobs back, no matter what they say. the situation is this -- you go to china, you buy for a penny, you come back to america and sell it for a dollar. that is not going to change. it is all smoke and mirrors. i feel sorry for some of these people that are here because there is no hope for them, and it is not going to come back. host: jim, thank you. you make a really important point about automation and driving some of the job losses. we have had disruption in the past in the american economy, and the choice has always bee