Comments by "DailyBeatings" (@DailyBeatings) on "US can't compete with China's technology, so it wages economic war" video.

China will just sell intermediate products to Vietnam and Mexico, who will then do the final assembly and slap on a made in Vietnam or Mexico label. Of course the product will be sold at a substantial markup, but that's the price for looking like you're doing something.
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@ItsukaShimotsuki Because domestic producers can't rapidly increase production they take advantage of short term profits by raising prices to match the import plus the tariff. You're getting ripped off by the government if you buy the foreign product or you're getting ripped off by the domestic producer if you buy the domestic product.
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@scottmcloughlin4371 Tariffs and quotas do not produce the desired effect and only create inefficiencies in consumption. I suggest you look up Ricardo's Comparative Advantage and the Heckscher-Ohlin model. Basic economics 101 stuff, nothing too difficult.
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@ruebze It's common sense. You don't need an economics degree to figure this one out...🤪
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China exports twice and much to the rest of the world than the US and EU combined. China would only need the rest of the world to increase consumption by 50% and they could completely eliminate the US and EU markets.
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The US will be living in a technological ghetto because the average person will not be able to afford the electronic products they're accustomed to having.
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@scottmcloughlin4371 Sorry, but Hayek and Mises is not standard theory. You're in the minority and out of your league on this one.
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@user-lk7cv8vg7r What I'm repeating is standard international economics 101 theory regarding tariffs and quotas. It's really nothing new or groundbreaking.
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@user-lk7cv8vg7r The other issue is that tariffs and quotas can easily be repealed. Therefore all that excess capacity could become idle overnight resulting in some rather large losses. What business is going to risk that?
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Well... bye...
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@Jk19-x6x Pay it is because nobody is going to create supply chains for a US only market...🤣
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@Jk19-x6x China will go out of business with a trillion dollar a year trade surplus and 5% GDP growth? You should stop with the China collapse shtick, it's embarrassing...🤣
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You do know that state capitalism has another name: “Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power.” - Benito Mussolini
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Micron treatment was only payback for how they ripped off Japanese companies in the 1980s. Karma's a bitch, isn't it?
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