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Even though it's far from over, I'm sick of talking about coronavirus. But we can't stop until we've learned everything we can from it. Obviously, it's human im
by bonestamp2 6y ago
Even though it's far from over, I'm sick of talking about coronavirus. But we can't stop until we've learned everything we can from it. Obviously, it's human impact is awful. It has been a brutal stress test for so many of our health and economic systems: healthcare, food, ppe, school, etc.
So, if there's one good thing that comes out of this, and I'm sure there will be many, it has to be that manufacturing returns to all advanced countries. No longer should we outsource nearly all of our manufacturing to various parts of Asia. Nothing against Asia, but we've known for a long time that it is high risk to put all of your "eggs", of any kind, in one basket -- it's very risky for everyone if we concentrate all of those abilities into a handful of countries in one part of the world. In might be cheaper in the short term, but it could be devastating for all of us in the long run.
This time it was a pandemic, but next time it could be something that destroys those countries and the timeline to rebuild is years. The survival of the planet may depend on our ability to manufacture. It already does in some ways, but the timeline is rather long at this point. What if the danger is imminent? Do we really want most high (and low) tech manufacturing concentrated in one part of the world? No, we need to spread it globally for the potential benefit of everyone.
The same way you balance your investment portfolio between different types of assets, we need to balance our investment in the future of the planet across the globe as well. Sure, some assets aren't as profitable, but you still hang on to them for security, stability and risk reduction.