by Summary:
Trump wants to bring the jobs home. That means huge capital investment, ramp up of facilities, training workers, etc. All China has to do is redirect production from exports to domestic consumption, which will simply requires increasing domestic demand. The obvious way to do this is to reduce saving and increase spending by expanding social welfare, which an objective of the CCP anyway. And it's in the 5-year plan to shift emphasis from external to domestic and to gradually increase the ratio of consumption to investment to level consistent with a middle-income nation.China must now deal with the Lewis turning point by working smarter rather than harder to increase productivity, and China is already a leader in robotics, AI, quantum computing, and other advanced technology. So China is
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Mike Norman considers the following as important: China
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Trump wants to bring the jobs home. That means huge capital investment, ramp up of facilities, training workers, etc. All China has to do is redirect production from exports to domestic consumption, which will simply requires increasing domestic demand. The obvious way to do this is to reduce saving and increase spending by expanding social welfare, which an objective of the CCP anyway. And it's in the 5-year plan to shift emphasis from external to domestic and to gradually increase the ratio of consumption to investment to level consistent with a middle-income nation.China must now deal with the Lewis turning point by working smarter rather than harder to increase productivity, and China is already a leader in robotics, AI, quantum computing, and other advanced technology. So China is
Topics:
Mike Norman considers the following as important: China
This could be interesting, too:
Michael Hudson writes China: Local Flowers Bloom
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Trump wants to bring the jobs home. That means huge capital investment, ramp up of facilities, training workers, etc. All China has to do is redirect production from exports to domestic consumption, which will simply requires increasing domestic demand. The obvious way to do this is to reduce saving and increase spending by expanding social welfare, which an objective of the CCP anyway. And it's in the 5-year plan to shift emphasis from external to domestic and to gradually increase the ratio of consumption to investment to level consistent with a middle-income nation.
China must now deal with the Lewis turning point by working smarter rather than harder to increase productivity, and China is already a leader in robotics, AI, quantum computing, and other advanced technology. So China is well-positioned and this "crisis" may turn out to the blessing that Russia found sanctions in leading to self-sufficiency instead of the curse that the US had planned.
Reuters
No place like home: Chinese firms stung by trade war build up domestic brands
Pei Li, Brenda Goh