America is becoming more isolationistic, in everything, but economy.
The manufacturing is unfortunately not only not returning to the US, despite efforts of 3 previous administration, but is leaving at the accelerated pace, faster than even at the "peak outsourcing."
Having no real economy, but banks, and McKinsey, while being in a such dependency on imports is a recipe for nothing good. US trade deficit has passed $70B, and we are on the route to see it pass 100 this decade because of enormous government borrowing to fight covid, and stimulate the economy.
Why it is so bad? Because, it tends to spiral out of control, when your only means to pay for basic living necessities is to spin the printing press, and kill the economy even more, precluding any chance at repayment.
People wee saying that US is facing the worst balance of payment crisis in eighties, when it just passed $10B, and the White House was in total panic. Now, fancy economists are now coming, and saying "nah, $70B is normal, we can always print more"
"enormous government borrowing to fight covid and stimulate the economy" is by no means the reason the trade deficit is what it is or what it will be. The trade deficit is the product of 40 years of policy that promotes outsourcing and does little to nothing to protect domestic manufacturing. The only thing that is protected is shareholder profit and tax schemes that protect it at the expense of the rest of society.
40 years of "misplaced policy," were a 40 years of actually very deliberate, and well placed policy called "monetary expansion."
Everything to facilitate the sale of US debt around the world, probably including a conscious effort to open door to foreign creditors at the expense of US industry was taken.
Chinese call this schema "You make all the work, and I make all money"
Well we saw last election how even mentioning the idea of preferring american business makes you apparently a Nazi. For the past forty years, almost every single american president, regardless of party, has been more than happy to sell out the country's manufacturing base and the media applaud and reward them for it.
My citation for the first claim is the trump campaign. Trump made china's trade with the us a centerpoint of both his campaigns and was called a racist for it. We were told it's just a dog whistle for white supremacy with little evidence, and we saw this line of reasoning continue through the covid pandemic, when reasonable theories, like the lab leak theory, which painted china in a bad light also earned mr trump accusations of racism.
The media cannot stand it when china is criticized. They have a long history of this, like how they hid he one child policy from Americans for years, and then openly persecuted the grad student who uncovered it
Yup tbat media. The media with a vested interest in ensuring there is always sensational news, but absolutely no interest that its own coverage ever lead to better outcomes.
The media has a vested interest to not only portray china as evil, but to make sure china stays that way, and to thwart american presidents from doing anything to limit china's growth, so that the American media has a powerful short-term source of profits for its owners.
This is not rocket science. Notice how the Hong Kong and Uighur stories are just designed to provoke outrage. The moment anyone suggests a solution or a potential action the US can take, the media fall silent or starts attacking, depending on how likely it is for that action to work.
I'm talking about how for the past four years, import tariffs, which are the same.as bidens executive order were castigated simply for the crime of having been initiated by a republican
Slapping tariffs on steel and lumber was incredibly ill conceived. We should protect industries that are economically or militarily important. But needlessly raising the cost of unrefined materials made zero sense
As a man who worked in OEM electronics for 10 years, I can say, automation will not help USA a dime.
There are far richer Asian countries than China, business people with far more capital to buy fancy tooling. You think they never tried that? They did, and it didn't work largely, or the impact was minimal. Look at Malaysia, or Taiwan.
Hopes on robots, and automation as an economic "Wunderwaffe" is plainly silly, and are largely coming from people who haven't put in a single nail in their life. Don't listen to these men who say that.
100% agreed, as someone who’s automated manufacturing lines, the problem of automation is beyond just robotics. It’s automation with high reliability, yield, less downtime, high throughput, low costs and have to beat humans in the long tail of weird situations. The reason why your home printer can separate sheets of paper and only pick one sheet at a time is nothing short of a miracle backed by thousands of hours of engineering and years of failures. That said, some applications are very easy and we could automate effortlessly (Pick-and-place tools for example in PCB manufacturing).
I don't know about robotics and manufacturing. What i know is that I saved thousands of work hours for different companies by just a few lines of code in the few years I worked in this field.
I don't see how automation will save anyone's economy, but it surely will put a always growing dent in the economy
Electronics are a particularly complicated thing to manufacture, though.
I know an engineer who started a small business (in the USA) that makes specialized types of plastic-coated copper wiring. The process is 90% automated and runs around the clock. He keeps two employees on at all times, but they basically just change spools and then hang out and watch the machines.
The manufacturing is unfortunately not only not returning to the US, despite efforts of 3 previous administration, but is leaving at the accelerated pace, faster than even at the "peak outsourcing."
Having no real economy, but banks, and McKinsey, while being in a such dependency on imports is a recipe for nothing good. US trade deficit has passed $70B, and we are on the route to see it pass 100 this decade because of enormous government borrowing to fight covid, and stimulate the economy.
Why it is so bad? Because, it tends to spiral out of control, when your only means to pay for basic living necessities is to spin the printing press, and kill the economy even more, precluding any chance at repayment.
People wee saying that US is facing the worst balance of payment crisis in eighties, when it just passed $10B, and the White House was in total panic. Now, fancy economists are now coming, and saying "nah, $70B is normal, we can always print more"