Economics

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Behind Trump’s wishful thinking on ‘reindustrialization’: Why China can do it, U.S. can’t (www.workers.org)

submitted 21 hours ago by yogthos@lemmygrad.ml to c/economics@lemmygrad.ml

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[–] GreatSquare@lemmygrad.ml 4 points 5 hours ago* (last edited 1 hour ago) (1 children)

TLDR: skill issue.

The US could reindustrialize but like any large undertaking, it will take time, resources and a lot of planning/thought.

Trump doing some drastic action like tariffs is not only insufficient. It is actually detrimental.

Ah well. Sucks to be the US then...🤪

Maybe next time actually get some broad public consensus on what the fucking plan is and the time frames/resources involved!

Both socialist and capitalist systems still have to deal with the intricacies of global economics. Not all socialist countries managed to pull off what China did. The USSR fell when it was far more industrialized than China was.

[–] cayde6ml@lemmygrad.ml 2 points 3 hours ago (1 children)

Are you sure that the USSR was more industrialized than China was?

I'm not doubting you completely, or trying to be a dick. I would have said that maybe 5 years ago, you were right. But now I'm wondering if arguably, China is more advanced than the USSR was at it's height.

[–] GreatSquare@lemmygrad.ml 2 points 1 hour ago

I am saying China was less industrial an economy than USSR in 1989. I agree China is more industrialized now.

My point being that China had a lot of challenges to industrialise back in the 80s because it was far less developed than other socialist countries. The USSR fell yet China continued to develop industry due to solving a lot of different economic issues.

Politics can take some of the blame for USSR falling but I would argue that economics is a major factor also.

The US is now trying to industrialise more and facing its own challenges. Even if it suddenly turns socialist (as the article suggests in the conclusion), the US still faces the same economic challenges as would if it remained capitalist.

Exchange rates and the government bond markets affect every country that trades.