Preferential voting is also good.
The old internet was the peak.
Mostly static Web pages and thousands of BBS forums was the greatest.
Countries like China, Germany, Taiwan, etc. have competitive exports because they have direct and indirect subsidies to their manufacturing sectors at the expense of their household sector.
Some of these subsidies include a weak currency relative to their economy, weakened labour laws, preferential interest rates, capital controls, labour movement restrictions, etc.
China uses all of these. Germany primarily used the Hartz "reforms" which basically decoupled wage growth from productivity and GDP growth.
The reduces the household share of national income and they cannot afford to consume the production of their manufacturing sector and therefore the excess production must be exported.
I think 90% of the AI investments really have no commercial viability and are being developed to suck up clueless venture capital.
I'm older than 30.
Probably played one of your games.
Super curious here.
What game did you make?
It's an interesting economy.
In a closed economy, production that cannot be consumed (due a low household share of income) would result in production being shut down, lay offs, etc.
Being the reserve currency, with open capital controls and deep financial markets has allowed America to be the consumer of last resort through massive debt loaned by the rest of the world (particularly persistent trade surplus countries which themselves have weak demand).
It has resulted in massive government debt (which is trying to compensate the household sectors weak income share) and private debt.
Completely unsustainable.
The problem with these greed assholes is that while one of them can get rich by ripping off the public and low wages, if all of them do it, the public can't afford to buy their crap.
I doubt Syrian doctors will be heading back any time soon.
The country is in ruins.
While Assad is gone, HTS (who took over) literally emerged from Al Queda related groups.
A 2nd civil war is possible.
Don't you mean, pigboy Huffman?
You have selectively chosen parts of my post and declared victory.
This is insane, USA has a 100% tariff on Chinese cars, nobody has higher barrier to entry than USA. Germany has very low barrier, with EU only recently introducing a 15-35% import tax.
It's true, United States has a 100% tariff on electric cars. This is a relatively recent development.
China has capital controls (which btw, Western countries could do with), a controlled exchange rate, requirements for technology transfer, etc. for decades. This is a barrier to entry for foreign competition.
I don't have a particular issue with this given many other countries have done exactly the same thing to industrialise quickly.
You deliberately excluded all my points about indirect transfers like a controlled exchange rate, weak labour laws, preferential lending to industrial enterprises, etc.
You only have to look at the household share of national income for China compared to other countries to see how low it is and the impact of these policies (which sits at 50.7%)
This entire article appears to be focusing on the impacts of COVID-19 and the impacts of the war in Ukraine.
In reality, Germany wages decoupled (like the United States) from GDP growth years ago.
German wage share of GDP plummeted from ~60% in 2001 to 50-52% in 2018.
Oh please, Germany has stimulated trade of Electric cars tremendously for years, but is slowing down now, because the need for subsidies isn’t as big anymore. And when Germany did that, it was equal and nondiscriminatory for all, no matter which country the car was made, the sale of it was subsidized by government.
This has no relevance to what I'm saying. Countries that run persistent trade surpluses do it by decreasing their household share of national income by direct and indirect transfers to their manufacturing industries. As a result, the household sector cannot consume what is being produced and the surplus must be exported.
While production in China has grown rapidly, it didn't just start producing an extra 15 - 20 million cars for export. It's own domestic demand couldn't absorb that level of production.
You are not even debating based on reality.
You are not debating on what is even being argued.
200% Knowledge is nice.
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It has basically been taken over by the IDF