For decades, U.S. goods dominated the world markets because of perceived quality and as status symbols. Once Taiwan, Japan and mainland China's quality met or surpassed ours, simultaneously with the decline of the value of the U.S. dollar, American goods could not compete, even in our own country. The current value of the Euro over ours (145%) and the trade balance deficit with China has caused the dollar to be very low in value; that is, foreigners can buy much more of our products with their currency than ever before.
Our economy will not turn around soon, labor costs in the U.S. will remain low, and foreign companies will find it cheap to buy our goods. Recently, travel to U.S., and the shopping sprees tourists are engaged in has increased. Problem is, what they are buying here is made in other countries.
So, my guess is that, because exchange rates improved their purchasing power, there will be more sales in the U.S. to foreigners. If you are producing desirable handicrafts at, say, close to minimum wage, and can cheaply transport your products to the consumer at the point of sale, you can profit in our economic situation and employ U.S. citizens.
A couple of provisos: Chinese workers have marvelled at the junk that they produce and sell to the U.S. Much of the deficit between China and U.S. occurs because we buy useless junk, frivolous gadgets, and cheaply made products. Look at all the toys, tools, clothing we buy from "3rd world" countries. We now have no industries in the U.S., including steel and cars, because we are asleep at the trade wheel. Just because the dollar is worth less, people will not use their good money to buy OUR junk. If you produce "handcrafts", I suggest you concentrate on items that the customers need, of good quality, relatively inexpensive to produce, is unique, can get to the buyers cheaply, and can still make a profit.
I hope my comments have some value to you. Otherwise, my insights are another American product which didn't satisfy a need, and the customer is not buying it.
