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That would require productivity growth, which requires investment and training, rather than profit extraction from cash cows. The West has got very used to liv
by neilwilson 4y ago
That would require productivity growth, which requires investment and training, rather than profit extraction from cash cows.
The West has got very used to living off cash cows.
The other option is to invest abroad, and repatriate the profit. Which is something else Japan has done, the Chinese are doing, and the West seems to have forgotten how to do.
- nemothekid 4y ago>The other option is to invest abroad, and repatriate the profit. In other words, colonialism. I wouldn't say the West "has forgotten"; they are still extremely good at it with careful financial engineering, they can operate it without looking like slave drivers. The problem is there is only so many places you can invest and the west has burned enough bridges where any sovereign nation is incredibly careful when taking money from the west.