Comments by "Jackie Wu" (@jwu1950) on "" video.
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@Yo Momma Why you think China gives a shit for the US market. US/China trade is small potato to China, as well as to USA. Stop all trade, and it will only put a small dent to the overall annual GDP growth. Why do you think both Trump and China are not interested in making a deal ? Trump is playing this game hoping he'll be a war president at election time. War presidents always win re-elections. Churchill and Bush Sr. lost re-election because they ended the wars. FDR and even the imbecile Bush Jr. won re-elections in the middle of a war. It's that simple.
Take 5G as an example. China will consume half of all 5G products regardless if the 5 Eyes want 5G. And then there is the Asian market, the European market, the African market, the Latin American market. See how the US market is peanuts to Huawei ? By not doing business with Huawei, USA is going to lose competitiveness, access to Chinese market, and the opportunity to create more new jobs in America. It's that simple. Automation is unstoppable, and so is China. Free trade is the only solution for the future. The world is going to turn with or without USA. That is the facts of life.
Free trade and automation are two huge opportunities of the 21st century. We have a new world order, a world of abundance and of win-win. Gone is the US dominated old world order, the world of scarcity, dog eat dog, law of the jungle, zero sum game mentality and lose-lose. Wake up, America. Think harder.
By the middle of the 21st century, machines will be doing most of the work, and humans just play, travel, and piss away their endless wealth. Just make sure our children will live to enjoy it. The Chinese are already doing it. Watch all those Chinese tourists pissing away seemingly endless amount of money in every corner of the world. They are just a little bit ahead of the Americans.
May the love and the peace of Jesus be with us.
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@semantik95 Exactly. Classic economics need to keep pace with the 4th industrial revolution. Knowhow, technology, one of the five ingredients of production, has diminished the economic reliance on the other four : material, space, capital, and labour, ever since the information revolution that started in the early 80's
Materials like copper is worth close to nothing because we don't need to lay copper wires across the ocean for telephone lines anymore. We have wireless communication, faster, cheaper, more reliable. Copper mines and copper mining equipment become a liability rather than an asset.
Space and capital required to mine and administer sale of copper are being abandoned. Excess capital flooded the housing market, making cost of living unbearable for average Americans, and negative interest rates, already started in Europe, is coming to USA.
And as for labour, that's the topic we are discussing, correct ? What is obvious is copper miners and workers making copper mining equipment who used to enjoy protected middle class union wages are now unemployed with zero chance of returning to the same standard of living.
Copper is only one example. We can easily think of many, many others. That is the reality. Trade barriers and protectionist policies may slow down the process for a little while, but will end up with a worse situation as in the case of bank bailouts, subsidies to Boeing, GM, Ford, and banning of Huawei, because these will only encourage complacency, inefficiency, and inability to compete. Worse than that, pissing off China will cause China to buy from Airbus, France instead of Boeing, USA, and to make their own passenger planes. The world will be buying made in China planes that are better and more cost efficient. What's going to happen to Seattle and the workers there ? Think harder.
Free trade has helped slow down the erosion of the American middle class due to automation. Trade barriers and protectionist policies are going to accelerate the erosion of America's middle class. Blame China and blame immigrants all you want, reality won't spare you. Like it or not, AI is here to stay and to multiply, period.
Jesus and I share the truth and save souls. Neither of us is religious.
May the love and the peace of Jesus be with us.
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