China semiconductor industry decapitated

Discussion in 'Economics' started by VicBee, Oct 15, 2022.

  1. canada812

    canada812

    A lot of zero sum theory believers.

    Adam Smith clarified the benefit of trade a long time ago.
     
    #151     Oct 19, 2022
  2. Overnight

    Overnight

    Adam Smith was also wrong.



    John Wooden capitalized on that philosophy during his coaching years.

     
    #152     Oct 19, 2022
  3. TheDawn

    TheDawn

    Told you not to get excited and you still did. LOL I know we are at war with China. It's China, your country that's at war with us.
     
    #153     Oct 19, 2022
  4. TheDawn

    TheDawn

    In the last five years, China has really shown its true colours. All those proclamations that "we are peaceful", "we will never attack anybody", and "we treat people with equality and we do not discriminate" were all lies and shams just to dupe the West to give them more money for them to use it to dominate the world. In a way, I am kinda glad that they exposed their true nature and intention. Now we see them for what they really are and we adjust. We just hope it's not too late.

    It's not that we won't be ready for a world dominated by China. It's we cannot let China dominate the world, EVER!!
     
    #154     Oct 19, 2022
  5. TheDawn

    TheDawn

    Absolutely agreed. 70's was a fine time.
     
    #155     Oct 19, 2022
  6. VicBee

    VicBee

    Maybe Malay or Indonesia? How about Japanese, or Thai or Singaporean or Indian or Vietnamese?

    What Asian are you anyway?
     
    #156     Oct 19, 2022
  7. VicBee

    VicBee

    China provided a huge market for the West and a source of hard working, cheap and sophisticated manufacturing base. Every western manufacturers set up shop there because labor was 80% cheaper than US labor costs. Over the years that cost climbed and today some neighboring countries offer lower costs, like Vietnam or Indonesia.
    China's economic boom benefited both Chinese and foreign businesses whose profit margins grew significantly for at least 2 decades. This is the time when the West started getting flooded with Chinese products. During that time, China began erecting new rules, such as skills transfer, making it clear that foreign companies had to show commitment to Chinese development if they wanted to enrich themselves in its market. Btw, this is very common and encouraged in developing countries that have been and continue to be plundered by foreign companies taking resources out and doing the more lucrative processing at home.
    The point is that everyone benefited enormously from China's entry to the WTO, thanks to the US. Those who stood out to lose the most were western manufacturing labor and those companies that remained national.
    Remember, at that time the Republican party was adamantly supportive of globalism, while Democrats were protectionists, each protective of their interests. How ironic to see that today the tables have turned.
    China benefited greatly from foreign investment capital and access to the WTO. But Chinese are the hardest workers I've ever met and they built the powerhouse that it now is in the shortest time in world's history. It is both impressive and concerning. My position, stated many times, is that we, the US and Europe should have looked at it as healthy competition and a chance for shared learning. Instead some groups cunningly pushed the threat fear and today we're on a downward spiral towards possible war. China certainly has a part of responsibility for this situation, but the US has its share of responsibility tied to some groups' sense of dominance entitlement and probably from an admission of our inability to compete where China dominates.
     
    #157     Oct 19, 2022
    Stratter likes this.
  8. schizo

    schizo

    It doesn't matter. All of China's neighbors harbor resentment towards China. Not because of their economic or military power, but because they just cannot be trusted.
     
    #158     Oct 19, 2022
  9. VicBee

    VicBee

    And you know that how?
     
    #159     Oct 20, 2022
  10. TheDawn

    TheDawn

    That's not what you said earlier:

    Too late to change your stand, two-faced coward.
     
    #160     Oct 21, 2022