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Cake day: July 5th, 2023

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  • My facts were provided and cited? I’d argue your positions are the ones not related to the facts:

    aerospace and military manufacturers are saying there are certain components they simply can’t manufacture here without importing from China

    This is a media statement, not a fact, and not reflected in industry data nor historical examples. There’s a cost they don’t want to pay, not a hard block. Manufacturing has historically been more than able to adjust, but at a cost. In the event of a war we’d likely pay that cost, in the face of tariffs it’s up to those individual manufacturers to decide. So we might see them choose to keep importing instead of replacing certain components… But that does not then mean they couldn’t do so.

    I don’t understand how you have maintained this perspective of interruptions and shipping affecting the US more than China

    I didn’t claim this at all? And I won’t argue it as relevant since interrupting shipping globally is not a relevant equivalent to bilateral trade halting.

    I don’t feel like you’re making arguments in good faith, or you are disregarding my claims and raising straw man arguments… Apologies in advance as I’ll likely not continue this thread.


  • US manufacturing output is far larger than the amount we import form China.

    US manufacturing made about $2.5 Trillion in 2021: https://www.macrotrends.net/global-metrics/countries/USA/united-states/manufacturing-output

    US imported from China about $0.5 Trillion in 2021 (all goods, not just manufacturing): https://www.census.gov/foreign-trade/balance/c5700.html

    China could defeat most western countries without firing a single shot, just by cutting off their access to Chinese exports.

    I disagree with this assumption!

    We don’t rely on China, we benefit from trading with them. Some of our goods go there, we get some of their goods. If a war breaks out and that trade stops; we have plenty of manufacturing capacity. And the point of having allies is that we would expect assistance in the event of a war, so we don’t expect US manufacturing to even completely fill the gap (similarly our allies would expect the US to help if China were to target one of them… except that the current administration is alienating everyone but Russia…).

    If you look another level down into what each country manufactures; the US makes a lot of military equipment, and imports a lot of consumer goods form China. Our military would not lose much capacity by a loss in trade with China, but US consumers would lose some of their consumption options. Guess which one matters when it comes to war?

    I don’t support tariffs as a tool to increase American manufacturing jobs because they don’t accomplish that goal. This is not a political belief; it’s derived from evidence. Many sources available, here’s one: https://files.taxfoundation.org/20180627113002/Tax-Foundation-FF595-1.pdf

    Using tariffs as a diplomatic tool is only effective in extreme cases. Diplomacy is difficult and so many things are interrelated. If a tariff threat makes China capitulate to our position on Taiwan, why not just use a tariff threat to bring China completely into line on every other position? Tariffs are blunt, and cause harm (economic and diplomatic) to broad areas of both countries unrelated to the specific issue. Topical example: sanctions on Russia did not change their position on Ukraine, even though those were far more severe than just a blanket X% tariff and were supported by many other countries (multi-lateral as opposed to uni-lateral). If we want to influence China’s position on Taiwan, diplomacy is more effective than tariffs.



  • whyrat@lemmy.worldtoNews@lemmy.worldUS inflation unexpectedly increases
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    2 months ago

    Every Republican presidential term in my lifetime has had a recession start. None of the Democratic ones have…

    Regan; one started each term. First Bush had one in his term. Clinton had none in his 2 terms. Second Bush had a HUGE one each time (dot com and great recession). Obama had none in his 2 terms. trump had one in his first term (triggered by covid & shutdowns; which his (in)actions intensified…). Biden didn’t have one (but; just barely… and only by the official definition [NBER]; he did have two negative real GDP quarters, so one could argue this point). Now we’re starting trump’s second term, so we’ll see (it’s pretty clear we’ll have a recession within 2 years).

    This isn’t really debatable unless you ignore the evidence. Stock market and real GDP growth are overall way higher under Democrat presidents. One link for reference (but many more are available): https://link.springer.com/article/10.1007/s11127-021-00912-y





  • So if the difference is corporate consolidation… Sounds like that’s the real underlying issue then, not automation.

    Economics has well established that monopolistic behavior by firms harms consumers & the overall economy (that’s why we have anti-trust laws in the first place).

    Don’t conflate the one problem with another, as I agree the erosion of anti-trust laws is a bad thing and needs to be reversed. But that doesn’t mean firms further automating things is now also bad.

    I’d also say “automation affecting the whole economy at once” isn’t unique. The industrial revolution was not isolated to one industry, its effects were economy-wide. Also true for the transportation revolution (trains & steam boats moved everything), telecommunications, and the internet…


  • If you’re not aware, look up the automation paradox: https://ideas.ted.com/will-automation-take-away-all-our-jobs/

    Every* automation advancement has lead to an increase in employment, not decrease. Most often jobs in the immediate sector are lost, but the rise in supporting sector jobs are bolstered.

    Classic examples are the cotton mill and combine harvester. The number of agricultural workers declined, but the number of jobs processing agricultural product increased. Or with ATMs, the number of tellers needed per bank location decreased, but the total employment in the banking sector increased (banks opened more branches, namely in places where it was previously cost prohibitive).

    As more things are automated, what’s being automated becomes cheaper and more prolific, often increasing (or creating) new opportunities. There are so many historic examples of this, it’s hard to justify “this time is different” predictions… Even for things like AI automating white collar jobs.

    *Edit: almost every. It depends a bit on how you count the secondary jobs, and where those are located (automation combined with offshoring results in a net decline in some countries, but increase overall).