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Temu/Shein go too hard."Also, why does it matter that Americais incresingly becoming deindustrialized? What do we need heavy industry for? We can just buy everything we need from Russia's biggest ally!"
Change my view: manufacturing does not benefit the economy more than any other industry. If the unemployment rate is 4%, and people are employed elsewhere, so be it. In an advanced economy, all that is needed is human resources to generate value."What do we need manufacturing jobs for? Everything in America is going great! Everyone can just be a computer programmer!"
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There is an advantage to maintaining a manufacturing sector in most advanced economies (which is usually what targeted tariffs protect). However, there is a reason most major economies move on from manufacturing towards service sectors as they grow.Change my view: manufacturing does not benefit the economy more than any other industry. If the unemployment rate is 4%, and people are employed elsewhere, so be it. In an advanced economy, all that is needed is human resources to generate value.
Change my view: manufacturing does not benefit the economy more than any other industry. If the unemployment rate is 4%, and people are employed elsewhere, so be it. In an advanced economy, all that is needed is human resources to generate value.
Without globalisation, this trend would be vastly minimised. And of course, "there is a reason" doesn't include 'because this makes unskilled domestic workers better off'.There is an advantage to maintaining a manufacturing sector in most advanced economies (which is usually what targeted tariffs protect). However, there is a reason most major economies move on from manufacturing towards service sectors as they grow.
These jobs are for people who have few employment opportunities in modern america. And there's this persistent, extreme delusion that if we simply send everyone to university everyone can have (and perform) "good" jobs. It's not possible and it's not happening.Also I feel in a lot of ways, manufacturing is lionised by people. Lets be honest though, how many people aspire to work in manufacturing, or better yet aspire for their kids to work in manufacturing? Not many.
You think people who have left the labor force, men reduced to being walmart workers, people in the 'gig economy' who don't know what their income will be one week from the next, wouldn't want stable long-term manufacturing jobs?The irony of Trump's push towards remaking the US into a manufacturing powerhouse is that most Americans wont want those jobs - those jobs will mostly be filled by immigrants. Australia had the same issue as early as the 60s - hence why I'm talking to you now...in English.
Not ironically, considering Trump is not an establishment Republican and has furiously attacked many of the Republican party's core ideals from the very moment he entered politics. And course, this ignores that Democrats have been strongly in favor of free trade for many decades too, with Bill Clinton being the one who signed NAFTA into law. Trump would not hesitate for a moment to blame past Republicans for the decline of manufacturing, he's neverAll that said, Trump (as he so often does) speaks a bit of truth - the US far too easily gave up its manufacturing sectors by failing to protect them (ironically, this was pushed by Republicans).
This is overly black and white thinking. It's not 'we're either getting manufacturing back or not' - there's various degrees to which manufacturing can rise. Nobody wants or expects Americans to do stuff that can be done by people in Bangladeshi slums, but America could have a much larger automotive industry.However, if Im making you scrambled eggs you cant ask me halfway through for fried eggs sunny side up - the ship on US manufacturing has, unfortunately sailed.
well did u put it on red or black?lost $300 in 3 days!
tariffs so useful for economy!!!
thank u trump for making everything worse!
i put it on evens!!!well did u put it on red or black?
oh no I hope my bitcoins are okayi put it on evens!!!
nah i had some random stocks
wasnt great timing with the recession
Damn best thing I've read hereeconomy this economy that. why don't you go contribute to it
Luna is an absolute diva im telling uDamn best thing I've read here
I think this might be the biggest compliment Ive received on BoS. Question, you have pointed out that countries protect their auto industries, what were your thoughts on Abbott's decision to no longer support our auto industry (thus leading to its closure)It's so funny seeing idiots (not you, necessarily) attacking the various idea of tariffs without knowing that China, Japan and Korea only have appreciable automotive industries in the first place due to extreme protectionism