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, 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.
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Not only in the XXI century, it was always so.