Quote:
Originally Posted by TheStripey1
we didn't used to be... we used to make all our products and we looked down upon products made in other countries... do you remember when made in japan had the same connotation as made in china has today?
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Exactly. Many people see this fundamental shift as an inevitability.
So, let's say, then, within 50 years the US no longer produces anything. Outsourced and importing everything we consume. Is this necessarily a bad thing? Should we strive for some sort of material self-sufficiency?
Under this theory, all the wealth creation is done at the secondary (manufacturing) stage, NOT the service-based one. Therefore, we would have shifted all wealth creation to, say, China.
I think we may be setting ourselves up for very bad things, in terms of trade power and debts, if what this theory implies is true.