"We're just staring at each other. And in some ways, that's what's happening right now.
"But if we make things, then we add value and change the equation.
"When a manufacturer makes something as basic as a light bulb, then the employees can afford a night out - to eat at a restaurant and go see a movie....and make their way to the middle class.
"So we need to make things in America.
"But I want to be very clear: I'm not saying we should turn inward or move business away from other places.
"This is not about our country versus other countries. We have a global economy, and the factories abroad will keep humming along, driven in part by a rising middle class around the world.
"But as you've heard today the next generation of production will need to be built closer to its consumption. And that creates an opportunity for all of us.
"With our global role, as America does better, the rest of the world will too.
"Now, the new manufacturing jobs may look different from the old manufacturing jobs: many of them will be higher skill and higher wage jobs.
"Instead of a lineworker walking around to inspect the machines, you might have a supervisor monitoring her iPad.
"These will be good jobs – the jobs in the middle that we need.
"And, as you heard, the 'multiplier effect' tells us that each new manufacturing job will lead to about three more jobs around it, creating even more opportunity in our communities.
Working Together to do More
"So Walmart has made a
commitment. But the retail industry together could drive so much more – ten times more.
"That's how we make a difference.
"We need all of us to look for these opportunities and to see the world through new eyes.