Post A0wk3PxLtYTCr3mFPc by 0x00@social.panthermodern.net
 (DIR) More posts by 0x00@social.panthermodern.net
 (DIR) Post #A0wk3PxLtYTCr3mFPc by 0x00@social.panthermodern.net
       2020-11-07T06:31:58Z
       
       0 likes, 1 repeats
       
       @icedquinn @galena the issue with the trade war is as follows:1. USA moved all their manufacturing capacity into China because it’s cheap2. USA destroyed millions of local jobs in search of wider margins3. China is now largely developed and becomes cocky4. USA no longer has manufacturing leverage and can’t produce the most basic things whereas China is home to almost everything5. China increases cost of Chinese labour slowly and also furthers their political agenda6. Angry orange man shockedIt is for people like orange man that this happened. They want a reduction in cost and wider margins and China gave them that. USA would have preferred if China stayed under developed but now there’s no turning back so:7. USA imposes tariffs on things they can no longer produce, again, no leverage8. USA further destroys jobs and economies (American ones) through disruption of entire supply chains and an automatic price increase. Tariffs did literally nothing good for USA. They didn’t bring jobs back or make America great again. Companies simply moved their operations to India and increased prices for disrupted supply chain lines.
       
 (DIR) Post #A0wtp8FZvaylQb84ci by urusan@fosstodon.org
       2020-11-07T08:21:31Z
       
       0 likes, 0 repeats
       
       @0x00 @icedquinn @galena While the tariffs were indeed stupid and ineffectual, the background information you gave has some issues.Before the pandemic, US manufacturing output was actually at or around its highest level https://fred.stlouisfed.org/series/OUTMSSure, manufacturing has been a higher percentage of GDP in the past, but in terms of raw output the US is making far more than in the "good old days" before globalization.
       
 (DIR) Post #A0wuSBaXS1GF4gYUue by icedquinn@blob.cat
       2020-11-07T08:28:34.771319Z
       
       0 likes, 0 repeats
       
       @urusan that pandemic conveniently whisked away a number of Xi's ongoing embarassments, didn't it. :blobcatthinkingeyes:  @0x00 @galena
       
 (DIR) Post #A0wvJBXINN9OGCJJ4K by urusan@fosstodon.org
       2020-11-07T08:38:09Z
       
       0 likes, 0 repeats
       
       @0x00 @icedquinn @galena it should make sense that our manufacturing output is still high, because we didn't have sudden critical manufacturing shortages in the US due to the tariffs.Even the few critical manufacturing shortages that did arise during the pandemic were due to domestic issues, like TP being in the wrong form for retail.Sure, some specific supply chains were disrupted. I couldn't get a Nintendo Switch for months, but I just did without.