it occurs when it’s economically more efficient to move industry out of your country than to keep it in
It is not, generally speaking, more economically efficient to deindustrialize your own country. The logic you are using is neoliberal with “efficiency” meaning, “maximize profit for the financial sector”. This is an arrangement planned due to US-based economic crises and should not be projected onto China like some iron law. The US, as the global seat of capital, is uniquely harmful.
i’m not sure private businesses failing over covid is a good thing for an economy
The thing they wanted you to see were the statistics, not the guesswork and editorialization from that article.
It is not, generally speaking, more economically efficient to deindustrialize your own country
china is literally taking money that they could invest in domestic industry and investing it in industry overseas
i guess now you get to explain why they’re doing that if some form of economic efficiency isn’t the answer
The thing they wanted you to see were the statistics, not the guesswork and editorialization from that article.
“don’t look at that bit of the source i just chose to show you” would be an astounding bit of mental gymnastics
china is literally taking money that they could invest in domestic industry and investing it in industry overseas
This does not address what I said. Foreign direct investment is not the same as deindustrializing your own country. There are also more subtle, or at least often ignored, financial aspects regarding balance of payments and derisking from the dollar and eventual attempts at decoupling.
i guess now you get to explain why they’re doing that if some form of economic efficiency isn’t the answer
What do you think economic efficiency is?
“don’t look at that bit of the source i just chose to show you” would be an astounding bit of mental gymnastics
The expectation is that you engage critically so that you can match up the source with the part they are talking about. In this case, it is that the balance between public and private ownership has shifted towards public in recent years.
Instead of engaging with what parent was talking about, instead an editorializing quote was found and now we are talking about that and other poor attempts at wit.
Foreign direct investment is not the same as deindustrializing your own country
and as i said at the outset, “we’re just investing elsewhere” is how us outsourcing started
“they’re not doing it at the expense of hollowing out their domestic industry” is a completely baseless claim when following an equivalent timescale the same would have been true about the us
What do you think economic efficiency is?
ratio between resources expended to resources produced
The expectation is that you engage critically so that you can match up the source with the part they are talking about.
they were using the source to argue that china is intentionally moving away from private ownership. the source saying that the move is unintentional is absolutely materially relevant, and it’s laughable that you’d accuse me of failing to engage critically when you missed that.
