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And how can that be done? Sometimes you simply can't compete with another country with really devalued currency and very low wages
by frostwarrior 4y ago
And how can that be done?
Sometimes you simply can't compete with another country with really devalued currency and very low wages
- Psyladine 4y agoThe same way oil-scarce regions don't compete against oil-rich ones. Geography is destiny, and nations specialize in industry for a reason, beyond the universals (food, education, justice and social welfare).
- epistasis 4y agoThe book I recommend at the top gets into that in parts two and three. For example, "export discipline"
- mbrodersen 4y agoThat’s exactly what Japan, Singapore and the rest of Asia did. It worked.
- pas 4y agowhat? that's the time to sell labor. that's how China started. since the farms were industrializing, there was a lot of people who had "nothing to do", hence Foxconn and so on. and you know, sweatshops. people opted to work in one because it was better than trying to make it in whatever rural village farming rice and hope. the problem is not the economics, but the politics. the elites who got filthy rich on this don't want to move to the next stage.