Disagree. But much better for domestic consumers to get the best prices and highest quality. I don't care if a Chinese or American magnate becomes a billionaire. I care that millions of middle-class Americans get the best deal possible.
Well I'm in China myself and while I agree I think it might not produce the effect you want. First, ideologies and absolute rules dont work because as soon as you know them, you work to bypass them to your advantage.
With that in mind, what do you think of the current situation? The US maximize price based optimization (get the best deal) while China maximize population occupancy (everyone must work, nobody is educated = low salary, high industrial out, low output price - one might say to make its population calmer, or simply because for them being busy > getting the best deal).
You then have the largest oldest country in the world trending toward mass slavery reducing prices for the richest most abstract country trending towards 0 productivity in exact opposite.
What is the end game? All americans, getting everything for free losing the ability to build anything while all Chinese work at their own health cost to provide the best prices while being the only ones able to produce anything ?
I think a more balanced local mini supply chain would help both countries and Im glad it s heavily discussed all over the world (decoupling from China, Chinese industries realizing their Chinese employees are now their best clients)
I don't think this is an accurate characterization. The US still has massive manufacturing output, that's still growing, and recently reached a record high.[1]
The US still imports a lot of manufactured goods, but that's a consequence of it being competitive in many other service-fields such as software, entertainment, financial services, corporate management, and healthcare technology.
China may assemble the iPhones, but America is designing and coding them. To me that makes it seem like China is the much more co-dependent party in the relationship than the US.
