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> On the other hand, ramping up production that has been offshored is not that easy, and is a lot more expensive initially. It depends on the nature of that pa
by ethbr1 2y ago
> On the other hand, ramping up production that has been offshored is not that easy, and is a lot more expensive initially.
It depends on the nature of that particular good's production.
Some industries are incredibly supply-chain and labor-intensive.
Others are capital-intensive.
Others may be knowledge-intensive.
A country should seek to compete in industries it has the most core competencies in.
- leereeves 2y ago> A country should seek to compete in industries it has the most core competencies in. While US policymakers were following that advice, China did the opposite. They decided what they wanted to compete in and built the core competencies they needed to do so.