Exactly, steel production is key for a whole range of important industries. It’s also key for having any serious military capacity. The west is now finding that it simply can’t match Russia in terms of weapons and ammunition on the battlefield.
Exactly, this is a fantastic read on the subject. There’s also a prisoner’s dilemma scenario happening between all the companies. If one company were to reshore manufacturing then their input costs go up relative to their competitors making them unprofitable. So, unless all companies decided to reshore together it’s not really possible to bring manufacturing back. And even if a single state decided to force their companies to do this then they lose competitiveness with other capitalist states. This problem has no solution.
Exactly, steel production is key for a whole range of important industries. It’s also key for having any serious military capacity. The west is now finding that it simply can’t match Russia in terms of weapons and ammunition on the battlefield.
deleted by creator
Exactly, this is a fantastic read on the subject. There’s also a prisoner’s dilemma scenario happening between all the companies. If one company were to reshore manufacturing then their input costs go up relative to their competitors making them unprofitable. So, unless all companies decided to reshore together it’s not really possible to bring manufacturing back. And even if a single state decided to force their companies to do this then they lose competitiveness with other capitalist states. This problem has no solution.
deleted by creator
deleted by creator
deleted by creator
Not only in the XXI century, it was always so.