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I've had this nacent idea percilating in my mind that in our lifetime we are going to see the (economic) separation of American industry from the American homel
by lefstathiou 16y ago
I've had this nacent idea percilating in my mind that in our lifetime we are going to see the (economic) separation of American industry from the American homeland. If we look at it from a nationalistic perspective (ie America versus the world) then yes, America has much to lose if it cant get it's shit together and thus has to resort to protectionism (which ultimately will fail). If we look at it from the corporate perspective, American companies have everything to gain from continued globalization, assuming they have free access to these markets. What's the big deal of Intel engineers in California design chips manufactured by Intel engineers in Vietnam? At the end of the day this is still Intel.
We see this phenomenon playing out more dramatically as many of America's leading firms (in Finance, Energy, Tech) are pulling in tremendous amounts of money while the Nation is engaging in historic trade deficits. Long term, this has fairly dangerous implications because the interests of your nation should coincide with the long term interests of its corporations. When this fails, I can see some of these super multi-jurisdictional firms making a case for why they should no longer be "American" corporations. Coming from the Finance industry, there really is no reason why I have to be in NYC to do what i do. I could do it in Hong Kong where there is 15% income tax or Dubai where I hear it's even less. In that case, I win, America loses.
These are dark times...