ANY system with numerous, complex, and hidden dependencies is fragile and higher risk. Covid, Russia/Ukraine, and now the BRICS/de-dollarization are making many of those dependencies explicit.
ANY system with numerous, complex, and hidden dependencies is fragile and higher risk. Covid, Russia/Ukraine, and now the BRICS/de-dollarization are making many of those dependencies explicit.
At the same time I don't think we should expect any factories coming to the US to provide massive amounts of jobs as they did in the past. Companies that manufactured overseas quite commonly had their administrative divisions either in the US already, or some other country, and as a huge amount of that is remote style work it will remain fungible.
The 'never coming back' mantra was mostrecently the unfortunate cry of the democrats during the 2016 election cycle. A shame because it cemented in the minds of the rural working class that they are unwanted.
We value diversity but then make these claims that our economy doesn't need this.
Stupidest thing economists got people to believe. That it's a good idea to export industries like manufacturing that benefit highly from technological progress. While keeping those most subject to Baumol's Cost disease.
Bonus: Prioritizing overhead industries like adshit, finance and insurance.