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Published 5 months ago with 1 Comments

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  • Appaloosa (edited 5 months ago)
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    Great article. There is a lot more to all of the transitions of economies too, its quite amazing. The US decided to be a consumer economy instead of a manufacturing one and exported those activities to lower cost countries. In turn, those countries were able to build infrastructure and in general improve the lives of their citizens. I've seen it first hand over the last 30 years. Japan became a consumer society, and now China is on that path. China has the ability to make and sell itself, much like the US did up until the 80s. The danger is unemployment, as that interferes with consumer purchasing. Anyway, every transition has its bogeyman.

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