China has secured a virtual monopoly over gallium, a critical mineral used to produce microchips in advanced military technologies. Failing to de-risk gallium supply chains could have serious security and economic consequences for the United States and its allies.
Plays stupid games, win stupid prizes as the saying goes.
China spent decades investing into their industry, and developing the skills needed to have the vertical climb we’re seeing. Nobody has a lock on it, and I never said that others can’t do it. What I said was that it will take significant time to do, and Chinese companies will have a market advantage during that time.
It’s also worth pointing out that the reason China is able to do these things is due to the fact that it retained ability to do state planning and it has large scale state owned industry. On the other hand, US ended up being largely deindustrialized because it’s run by financial capitalists who don’t see such industry as being profitable. I recommend reading this article explaining the dynamics of this https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
US would need to either provide massive subsidies for businesses to make this appealing or create its own state industry. Seems to me that neither option is likely given the current political climate in US and the financial situation it finds itself in.
It’s strange that you’re down voted for this. If I was in the US, I would care very deeply about why my economy was like it is and how it could be fixed.
Even if I didn’t agree with the China model, I would appreciate a rigorous analysis the pointed out the flaws in my country’s own model. Perhaps the most curious thing is that—and I may be wrong—the people down voting you probably see themselves as patriotic Americans.
You’re not even saying anything that mainstream economists like Ha-Joon Chang might say.
China can have a near vertical climb in production (your chart) but no one else can?
The vertical change takes planning and time, but no one has a lock on it. Especially if it becomes a strategic resource (and it has).
China spent decades investing into their industry, and developing the skills needed to have the vertical climb we’re seeing. Nobody has a lock on it, and I never said that others can’t do it. What I said was that it will take significant time to do, and Chinese companies will have a market advantage during that time.
It’s also worth pointing out that the reason China is able to do these things is due to the fact that it retained ability to do state planning and it has large scale state owned industry. On the other hand, US ended up being largely deindustrialized because it’s run by financial capitalists who don’t see such industry as being profitable. I recommend reading this article explaining the dynamics of this https://americanaffairsjournal.org/2021/08/the-value-of-nothing-capital-versus-growth/
US would need to either provide massive subsidies for businesses to make this appealing or create its own state industry. Seems to me that neither option is likely given the current political climate in US and the financial situation it finds itself in.
It’s strange that you’re down voted for this. If I was in the US, I would care very deeply about why my economy was like it is and how it could be fixed.
Even if I didn’t agree with the China model, I would appreciate a rigorous analysis the pointed out the flaws in my country’s own model. Perhaps the most curious thing is that—and I may be wrong—the people down voting you probably see themselves as patriotic Americans.
You’re not even saying anything that mainstream economists like Ha-Joon Chang might say.
Turns out any suggestion that China is able to do something that US can’t is not something people coming from reddit can tolerate.
Who knew this is the kind of logic that a society built on white supremacy would lead to?
I’m shocked as well.