I think deindustrialization is detrimental to the US. We couldn't even make masks fast enough during the covid. The YouTube video that compares the factory of GM and that of BYD's is just embarrassing. It really shows how far we've fallen. The cost of building anything, including canon shells, is through the roof because we simply don't have the supply chains. And do we really believe that we can keep innovating if we don't actually make things? It's really a pipe dream that our engineers can keep drawing boxes in their cushy offices and believe that Chinese companies won't catch up. On the other hand, it's so sad that successful people like Balaj believe that the US can never reverse the course of deindustrialization. Their reasons are the usual: the US workers are too incompetent compared to the Chinese workers. Our automation is too behind compared to China's. We have lost the know-how of building our supply chain. We may get back manufacturing, but we will lose our seigniorage of a global currency - the US dollar.

What I don't understand is that China was dirt poor 30 years ago and was not a manufacturing powerhouse even 15 years ago. It was the Taiwanese, the Japanese, and the westerners who invested heavily in China and brought them technologies and expertise and bootstrapped the massive manufacturing industries in China. The quality and professionalism of US workers used to be the envy of Chinese people. Since when rebuilding the manufacturing business has become mission impossible? Can we really keep printing money when we make so little stuff? I get that we have great service jobs, but who wants our services if we don't make anything worth servicing? Back in 1917, Allyn Young believed that London would always be the finance center of the world, but we all know what happened later.

I'm not sure if Tarrif will work in the end, but at least it can attract additional investment given that the US is the largest consumer market in the world. Combined that with deregulation (assuming it will be be successful) , at least the US has a shot to bring back the key manufacturing business. And don't we believe actions lead to information? What have we done in the past 15 years to stop our deindustrialization? At least this time our government is trying. For that, I'd like to give them benefit of doubt.