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> They may in principle have established the technologies to be self sustained but that’s only relevant and sustainable if they develop an economy based on dome

> They may in principle have established the technologies to be self sustained but that’s only relevant and sustainable if they develop an economy based on domestic consumption rather than exports. Which they are struggling with as well. Is this really true? Can't they just keep exporting "forever"? What requires them to find a domestic audience? I can think of some other countries that have done quite well mostly without finding a domestic audience (eg, Switzerland comes to mind, and frankly Europe might largely be in the same bucket).

T-A 13d ago
https://www.imf.org/en/publications/fandd/issues/2023/06/superpowers-are-forsaking-free-trade-ngaire-woods https://www.imf.org/en/publications/fandd/issues/2023/06/sup...
- jacquesm 13d ago
  Totally non-biased of course.
  - pixl97 13d ago
    Nothing exists in the world that is not biased. The key to knowledge is understanding what those biases are.
yxhuvud 13d ago
Europe (by which I assume you mean EU or possibly Euro area) has a fairly balanced balance of trade overall. And a teeny-tiny country like Switzerland can't be usefully compared to something as big as China - the rest of the world can easily consume whatever the Swiss produce, but there are limits to how much Chinese can produce until consumption will have to shift to domestic consumption because the world doesn't have infinite ability to pay for its demand. That said don't expect any big change anytime soon - there are very strong political incentives to keep the status quo with China focusing a bit too much on exports.