I wonder if the United States were ever to become socialist, if the country would have to undergo a period of re-industrialization just because so much American industry has been outsourced. China's manufacturing prowess in comparison is only going to continue to grow.
this post was submitted on 23 Jan 2024
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I expect so, after so many decades of financialization of the economy, a lot of important industries have been moved out of the country. This was a great read on the underlying dynamics incidentally https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
That kids is why you never outsource to other countries
We should be happy their quarterly short-sightedness allowed them to let China completely pin them in a chokehold, the 2020s could have gone very different if they weren't so foolish!