Earlier quoted context omitted.
The problem with the west is that it’s already developed. Everything in the west is a bit like the European automobile industry, it’s highly refined for what it is and we expect to milk it for some time to come. Same thing happened with the financial institutions and internet infrastructure - those who had the early versions of it established early ended up lagging behind once the technology was superseded. The poore…
strongly disagree. the West has almost no manufacturing capability or labor force (at an affordable rate) at the moment. it's almost unsustainable even for a small business to be paying $20 an hour in some cities let alone run large factories
China has more. And the trends are in the wrong direction, to be sure. But Germany and the US, among many others, have tremendous capacity.