Such an L even from a neoliberal point of view. The US is an advanced manufacturer, those are our inputs. Nations that are dominated by resource extraction get into a rut because they fundamentally can't match the productivity of economies that are creating the final end goods, because that's where most of the profit comes from. The sellers of inputs can only ever match the profit rate of the final good it's used for. The US is obviously not going to have a resurgence of production of steel, aluminum, solar panels, and semiconductors, so this is just going to end up tanking every sector that uses them. It's just the worst of the nudge-based economic brainworms taken to it's logical extreme.
The point of this stuff is that China is now creating the end goods, which was Not Supposed to Happen™ (see: "Coping Hillary" video). Solar panels, cars, and chips are end products when China was supposed to just be cheap labor for western companies.
The only thing they can do is continue to try and cripple China. Obviously China isn't going to be content just being a place for cheap labor.
Such an L even from a neoliberal point of view. The US is an advanced manufacturer, those are our inputs. Nations that are dominated by resource extraction get into a rut because they fundamentally can't match the productivity of economies that are creating the final end goods, because that's where most of the profit comes from. The sellers of inputs can only ever match the profit rate of the final good it's used for. The US is obviously not going to have a resurgence of production of steel, aluminum, solar panels, and semiconductors, so this is just going to end up tanking every sector that uses them. It's just the worst of the nudge-based economic brainworms taken to it's logical extreme.
Eyyup...
The point of this stuff is that China is now creating the end goods, which was Not Supposed to Happen™ (see: "Coping Hillary" video). Solar panels, cars, and chips are end products when China was supposed to just be cheap labor for western companies.
The only thing they can do is continue to try and cripple China. Obviously China isn't going to be content just being a place for cheap labor.