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Window guidance doesn't have a great correlation with wage power, as was seen with the loss of shipbuilding capacity in Japan in the 1980s to South Korea as wag
by alephnerd 1y ago
Window guidance doesn't have a great correlation with wage power, as was seen with the loss of shipbuilding capacity in Japan in the 1980s to South Korea as wages rose leading to automation (remember the whole Japanese "robots" trend).
- bobthepanda 1y agoIt is good if your concern is relative domestic wages, since favored firms and industries can pay more if they have access to cheap credit. It is hard to maintain that competitiveness as living standards rise and eventually window guidance starts running out of steam, as Japan discovered in the '90s and China is discovering now.