Where there was darkness only six years ago, North Dakota’s shale rigs now light up the night sky in America.
The “shale revolution” in the US is a remarkable story, but it is less remarkable to an economist than the manner in which the manufacturing renaissance it could help drive is likely to turn the US into a competitor for emerging market economies.
The US has consumed the output of emerging market economies over the past five decades, so is a manufacturing renewal enough to turn it into a competitor for those economies?
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