pull down to refresh

Most American and for that matter globally, households, businesses and supply chains are chokka with Chinese manufactured goods. They can be produced by others sometimes but seldom at the same low cost. Disengagement from the Chinese economy would have severe inflationary and supply chain consequences for most economies- this is how China has beaten the west at its own game- China has won the trade war. It's a done deal. Clothes have moved away from China to those around its growing orbit of power. Chinas manufacturing has naturally progressed up the chain toward higher value added products like cars, planes and robotics...and to secondary and tertiary level services and infrastructure like banking, insurance, logistics, communications and space technology. This is natural the progression of a mercantile empire on the rise. In contrast to the receding US one that is now clinging to the remnants of its former dominance.
Consumption is the game. We'll see how that plays out. It may just be a batton pass.
I think Americans are focusing more on the land and family.
reply
American consumption far greater than production has been enabled by it's global power projection. As America retreats, that power projection becomes less effective and so does continued consumption exceeding production.
reply