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Germany also faced the China shock and Japan. They didn't deindustrialize. Policy choices matter. Leadership matters. And the social factors that lead to devalu
by wbl 7y ago
Germany also faced the China shock and Japan. They didn't deindustrialize. Policy choices matter. Leadership matters. And the social factors that lead to devaluing competence and doing things matter.
- khuey 7y agoThe US didn't actually deindustrialize. US manufacturing by value added is larger than Germany and Japan put together. What we did do is get rid of a bunch of low value manufacturing. We're finding out the hard way that some of that low value manufacturing is actually useful though when you need a hundred million facemasks or ten million test swabs or whatever.
- wbl 7y agoTaiwan didn't make millions of facemasks before January. Ventilators are also made in the US and are very high value.