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wages rise
Making the west less competitive in manufacturing. Low value manufacturing is the majority of manufacturing, including in military applications, and the innovation that leads to the high value tends to bubble up from the low value, with a significant lag. Our high value manufacturing is a lagging product of the historical low value manufacturing that was conducted in the West.
I'm desperate to believe your narrative, so I'm definitely not offering cope. You're just really bad at objectivity.
If wages rise we can afford our own goods. That's real growth, not debasement to keep the world afloat.
Low value doesn't move the needle, steel, chips, aircraft engines etc do. We already have, or have already invested in those. Trump v1 got that ball rolling almost a decade ago now, obvious plan is obvious.
China manufacturers what we allow, with materials we allow, and buys our food. To the extent they can export requires our navies approval.
The push toward automation is yet another factor, per your earlier Japan reference, they've survived demographic collapse with automation.
US has the combination of all factors, may not be #1 in all, but in most, with weaknesses being solvable and remediation well under way.
I'm objectively looking at what's happened, happening, and extrapolating. If I thought investing in China or Brazil made any sense I would. If you want an offshore bet, look to Argentina, our newest colony.
They cannot rise enough to compensate for the rising consumer costs, and US consumers survive on debt. Oh, and by the way universities have ensured that Western millennials and gen-Z don't have the skills and have really have status expectations, unlikely to capitulate to manufacturing jobs without significant pay increases that will make those companies insolvent.
And rising costs will wipe out boomer pension plans.
The US, Europe, and Japan are all trapped in policy paralysis, every direction is pain.
Japan have not survived demographic collapse at all, they simply papered over the problem with 0% interest rates and restructured their pension liabilities in the early-90s to keep their bond yields low, something the west failed to do because it's not ethnically homogenous. Japan has simply forestalled the problem.
You're kind of the irritating mirror of that China shill that I muted. You two should just pair up and talk to each other. I'm done providing this reality check, you're motivated to come to specific conclusions and that makes conversations boring.
All he's got are muh rare earfs
All you got are muh non-specific counter-measures
Clowns both.
In case you haven't noticed, the immigration has been ground to a halt intentionally so wages rise. Re-shoring or near-shoring has been under way since 2018, low value manufacturing of rubber dog shit from China with Australian raw materials does not an economy make. None of those countries except maybe india can even feed themselves.
It's already happening as we can observe, all you seem to be offering is Atlantic Council cope.