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My point was more that the economic composition of the US is not immune to similar effects. The US is highly dependent on Asian manufacturing, which in turn is
by lumost 4y ago
My point was more that the economic composition of the US is not immune to similar effects. The US is highly dependent on Asian manufacturing, which in turn is dependent on global energy prices rather than local energy prices. The price of labor in Asia is also increasing substantially (something that should be celebrated).
Arguably, there is no economic zone in the world which is internally well balanced today. This will translate into unique and difficult to navigate problems across the globe due to deferred consequences of past crises, geopolitical conflict, global climate change, and changing demographics.