CEO = Chief Executive Officer.
A position invented to go between the board of directors and the company manager to ensure that the boards wishes are carried out .
Originally it was necessary when a single board controlled multiple companies.
Then it spread to every company cause the sons of rich people needed a very highly paid job to do.
Up until the 90's the USA management pollution seemed to pass over Aust but now we have far more greedy morons in management that you do.
Executive wages have gone up 16,000 % since the 90's while workers have gone up 300%.
By keeping the costs of workers needs low, managers can keep workers wages low and pocket the bulk of the extra profits and that is exactly what USA companies mostly have done.
When locally born people would not work for the money on offer they brought in foreigners ( Mexicans & S Americans ) and when this was not enough they outsourced.
Because of the White Australia Policy & being an island, once the supply of WWII white European refugees had dried up we were forced to pay higher wages so for a while the difference between top executive salaries & the shop floor was on average 300%.
Now it is 10,000% and getting bigger every year.
Eventually this leads to riots ( see France now ) and ultimately a socialist revolution.
President Trump is trying to avert this by using the Mexicans the same way as Hitler used the Jews.
As for importing from the 3rd world.
Back in 76 as a freshly minted graduate I attended my very first international engineering conference.
The speaker from the government told us the country was blessed with a well educated & wiling workforce, an abundance of natural resources, a good climate and cheap energy so we will become the manufacturing centre of the world.
The next speaker was from commercial enterprise and his lecture focused on excessive wages, too much union influence, high shipping costs, too small a local market , low productivity and concluded that our only hope for prosperity was to massively increase the population while outsourcing all of the low profit manufacturing to cheap labour countries like Japan where they could make our superiour designed products cheaply & our future was in the high profit design sector where we had a NATURAL ADVANTAGE ( just a touch racist ? ).
Over the following decades I have heard the exact same paper given by dozens of industry representatives and the only thing that changes is the name of the country where the workers were so stupid they could not make anything that we ( the vastly more intelligent ) did not design.
They went from Japan ( total idiots can't design a safety pin unless we showed them how ) to Singapore to Korea to Hong Kong, to the Phillapines to Indonesia to Brazil to China / India. Same speech different country.
Your President has given a very similar speech on more than one occasion.
Both of our countries have the same problem,,, executive greed and the single minded approach from the 1920's that the only way to produce less expensive products is to pay lower wagers to the peasant scum they employ.
During my university years I worked full time night shifts to finance myself.
As such I got a good grounding in general manufacturing and what I saw would have done a workhouse owner in a Charles Dickens novel proud.
And the Government is just as culpable by subsidizing wages and not productivity so for instance all of the USA car factories sucked up government funds, invested almost nothing in modernization then shot through the instant government funds were cut off.
Things in the USA seem to be very similar.
During the banking crisis it would have cost 1/4 of the money handed out to the big banks to take over all of the bad home loans so people would still have their houses and jobs.
But no the government went down the more expensive route of giving money to the banks and less than 5 years latter it was business as usual.
people lost their jobs & houses so were willing to work for next to nothing again.
If a bank was considered "too big to fail" then the government should have taken it over so the only people out of pocket would be the share holders and when the bank was profitable again allow the share holders to buy back their shares at a discount to the current market value.
The very basis of the capitalist system is bad businesses will fail and their assets end up in the hands of better run ones,,, the MARKET RULES.
But apparently the market only rules when it is convenient for the ultra rich to profit from it
or as George Orwel put it
"All animals are equal but some are more equal than others"
Looks like I have gone on a rant, sorry about that
