Pandemic has killed globalisation, says Carmen Reinhart

[BAT31]

But what if we can make them for $2?
I’ve seen many examples of people willing to pay Several times the price for something just so long as it’s not ChinaMade.

Many examples, huh? Okay.

To answer you question, it depends.

Two dollars seems like a decent compromise, on paper. However, I suspect that the large majority of Americans have become too accustomed to Walmart prices, and would object to paying Macy's-like prices. Who knows? I could be wrong.

At the end of the day, we are talking about the decisions ultra capitalists, here. I just don't see them forgoing cheap labor in Southeast Asia and repatriating manufacturing back to the United States.

Think about it. Is a capitalist comfortable replacing a foreign worker who's comfortable with (or coerced by the CCP) making one or two dollars a day, for an entitled American demanding seven to eight times that much, along with health benefits, and annual raises, and if he/she doesn't get it, they will shutdown production? I think not.

Once the pandemic passes, the economy reopens and the anger subsides, we will resume our addiction/demand for cheap crappy shit made in China, and everyone will kiss and make up.

 

[LacesOut]

Many examples, huh? Okay.

To answer you question, it depends.

Two dollars seems like a decent compromise, on paper. However, I suspect that the large majority of Americans have become too accustomed to Walmart prices, and would object to paying Macy's-like prices. Who knows? I could be wrong.

At the end of the day, we are talking about the decisions ultra capitalists, here. I just don't see them forgoing cheap labor in Southeast Asia and repatriating manufacturing back to the United States.

Think about it. Is a capitalist comfortable replacing a foreign worker who's comfortable with (or coerced by the CCP) making one or two dollars a day, for an entitled American demanding seven to eight times that much, along with health benefits, and annual raises, and if he/she doesn't get it, they will shutdown production? I think not.

Once the pandemic passes, the economy reopens and the anger subsides, we will resume our addiction/demand for cheap crappy shit made in China, and everyone will kiss and make up.

I’m not saying you are wrong. I’m just saying you ain’t necessarily right.
Yes Capitalism rules and so does the almighty dollar, etc.
But that might be pre 2020 thinking.
China is fucked. Many countries will be telling them to take a flying leap. I’ll pay $2 for the local garlic over the 50 cent Chinese version. Also will pay $800 for a bike for my kid rather than the $200 POS from Nanjing.

How many times are we willing to accept China poisoning and killing us before we cut them off at the knees?

While memories may be short...so is life. And the fucking Chinese are seeing to that.

 

[BAT31]

I’m not saying you are wrong. I’m just saying you ain’t necessarily right.
Yes Capitalism rules and so does the almighty dollar, etc.
But that might be pre 2020 thinking.
China is fucked. Many countries will be telling them to take a flying leap. I’ll pay $2 for the local garlic over the 50 cent Chinese version. Also will pay $800 for a bike for my kid rather than the $200 POS from Nanjing.

How many times are we willing to accept China poisoning and killing us before we cut them off at the knees?

While memories may be short...so is life. And the fucking Chinese are seeing to that.

Yes, with regard to global sentiment, China is fucked, and deservedly. Several countries have raised the question of whether they should remove China from their supply chain?

China is just a bad actor in the world, both at home and abroad.

Sometimes, I ask myself, for a country that has the second biggest economy, and has established themselves as a competitor in several arenas (tech, business, economics), they sure do some stupid shit.

If you think their poisoning of the world is bad, you should see how they poison their own. Remember the baby formula poisoning from 12 years ago? Recently, children's heads began swelling because they mislabeled protein shakes as baby formula. WTF?

China is supposedly in the race to develop a COVID-19 vaccine. If they are first to develop a vaccine, I will be (last + 1) in taking it.

The question remains, when will the world grow tired of China's bullshit?

 

[curiousGeorge8]

In the Great Depression after the 1929 market collapse, countries around the world engaged in trade wars and currency depreciation in order to gain an edge over each other. In US, the Smoot–Hawley Tariff Act was passed in 1930. The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Depression. Economists and economic historians have a consensus view that the trade wars exacerbated the Great Depression.

 

[SunTrader]

Lately, I have been watching NTD News and Australia's Sky News. If the accounts are accurate, China is a really BAD actor in the world.

China is doing like any other country, acting in their own interests. If that makes them a "bad" actor so be it.

 

[SunTrader]

I think this pandemic will not kill globalization because money has and will always flow to the lowest cost bidder whether it be manufacturing or jobs. But I do think there will be a hysteresis effect after this pandemic with the supply chain disruption and all. I think this opens the door for other emerging countries to be the cheapest manufacturers of the world. But that had already been happening even before the pandemic because of China's rising costs. In 10 years China will still be a huge economy but not the central focus as it is now.

Agree.

As well money (consumers money that is) flows to the lowest cost provider of goods and services. Whether or not those providers happen to be Commies.

 

[BAT31]

China is doing like any other country, acting in their own interests. If that makes them a "bad" actor so be it.

I am all for China acting in its own interest, but unfortunately your comment is just dumb. It's dumb for the following reasons.

1. Hiding the fact that there was an outbreak. When outbreaks occur, a RESPONSIBLE country reports that shit.

2. Running over protesters with tanks is not cool.

3. Exporting blood pressure pills with cancer-causing ingredients is unconscionable.

4. There are plenty more examples where China's actions are dangerous to both its citizens and the world.

Again, a your comment is dumb.

 

[SunTrader]

I am all for China acting in its own interest, but unfortunately your comment is ....

... dead on.

Meanwhile your response is dumb. I'll leave it at that.

 

[Zalak]

It seems to me that one can really agree with this.