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I think you’re forgetting about globalism. The global middle class is much larger than ever before. Free Trade agreements and outsourced labor make relying on a
by nemo44x 6y ago
I think you’re forgetting about globalism. The global middle class is much larger than ever before. Free Trade agreements and outsourced labor make relying on a local middle class a relic of the past.
- godelski 6y agoI think that depends on what perspective you're looking at. There is still a fractal nature to this. I think there's still an advantage if you're coming from the perspective of empowering your country. If you're a rich elite and trying to profit maximize I think your perspective matters more. But the goal makes a difference.
- Retric 6y agoTrade is a small percentage of US GDP. In 2019 it was only 2.5T in exports out of a 21.4T GDP. That’s no where near enough to keep the economy moving.
- nemo44x 6y agoWhat about products being made in foreign countries and sold in different foreign countries that are owned by an American company? That’s sort of what I was getting at.
- Retric 6y agoUS companies is really misleading here. Google is a very American company but it isn’t 100% owned by Americans. That’s why economists break things down by imports and exports.