Funny how we went from talking about China collapsing economically to all of a sudden being a major economic threat for the US.
There’s going to come a day where China releases some statement along the lines of “The United States continues to agitate against our development, but at what cost?” and it’s going to be the happiest day of my life.
I don’t get it? Isn’t cheap labour the reason the USA sent virtually all its manufacturing to China?
Why complain now?
cheap labour
This isn’t really the case anymore with China’s quickly rising wages and rapid automation.
People these days have things built in China no longer for cheap labour but because they have entire supply chains — from the most basic materials to the most advanced products — in the country itself with its manufacturing ability higher than the next 9 countries combined.
That’s the problem the US has: China has not stayed a cheap labour factory (like, say, Africa) and is actually advancing and starting to compete with the US — in some fields already having surpassed them. And this time they can’t sabotage their economy like they did to Japan with the Plaza Accords.
Perks of having a socialist state.
