By: Scott Davis
No one seems to want to risk free trade, but behind the scenes many of our CEOs are supportive of some action to level the playing field. Not for the trade balance fix, but purely for greater intellectual property protection and JV requirements to transfer technology. U.S. manufacturing companies have largely lost market share and… gave up critical technology in the process. We would argue in many instances U.S. companies acted irresponsibly, particularly in power generation, aerospace, rail, and other general infrastructure. But the outright theft of property otherwise is a major issue that needs to be addressed – and if fixed, is more helpful to industrial companies than most S&P sectors.