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No, they would export some stuff and import other stuff. It would all balance out. In the end, it must: what’s the point of exporting things, if you don’t get o
by xyzzyz 4y ago
No, they would export some stuff and import other stuff. It would all balance out. In the end, it must: what’s the point of exporting things, if you don’t get other things in return? Exporting is not a charity, you must import things in order for exports to make sense.
- toyg 4y ago> what’s the point of exporting things, if you don’t get other things in return? This take is utterly naive. What you "get in return" from being a massive exporter is not all quantifiable. It's soft power, influence, prestige. When everyone uses your machinery, you control the standards and their evolution, you control the market. Plus, even going back to purely economic terms, you can absolutely export and then keep the accumulated money sitting in coffers, financializing the gains (lower borrowing costs etc etc), or invest in local research to extend your advantage, and so on and so forth. None of these options require importing anything.