Earlier quoted context omitted.
No to me it just shows 2 different capital allocation strategies. China picked manufacturing. US picked datacenters.
No, US picked services, financials, defense, and energy China picked manufacturing, infrastructure, consumable exports All the compromises here were pointed out by critics on the left many decades ago. Letting capital flee to where labour was cheapest eviscerated the entire US and Canadian northeast/midwest manufacturing sector and was policy driven from the right. That and we decided that only the private sector sho…
The other part of the story that gets ignore is the administrative state exploding in the US/Canada post 1970s, where making new industry and development became very difficult making other countries more attractive while the cost of living exploded.
So instead of becoming competitive all we’re left with is these ideas of the government forcing domestic industry by using national security as an excuse to justify the backwards economics of it all.