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China lost 15 million manufacturing jobs over a period that also saw its global manufacturing share rise nearly 15 pp.
The headline numbers obviously mask an immense amount of underlying change and job sorting into higher value add (and retirements)
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Jonathon P Sine
@JonathonPSine
Replying to @JonathonPSine
Broader context since 2000:
- primary (agricultural) sector employment has declined by 200 million
- secondary (industrial) went from 160 million, peaked at 230 million in 2014, and now at 210 million
-tertiary (service) went from 200 million to 360 million.
It's an important reminder internally they are just as burdened by extraordinary efficiency of their vanguard production
On my mind reading Nietzsche last night so many applications to what we observe
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Vincent Palumbo
@vpalsmith33
Replying to @vpalsmith33
Remember men (and the systems he produces, think Amazon) has have a cognitive bias for greatness he throws all his strength into one thing, and makes it into a monstrous organ
The repercussions have yet to be discovered
But this is just natural, isn't.
They moved the sector from input-based growth to productivity-based growth, add to that the emergence of the service sector as urban consuming power increases.
Bearish. Bullish. Whatever-ish. You’re welcome here. Join the club, genius.
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“And this is where we adjust the interest rate.”
frustrating part of tariff discourse is that a lot of the answer to "why haven't tariffs been as bad as economists warned" is "Trump has ex-post exempted ~60% of goods from tariffs" (most things from Mexico/Canada plus computers, smartphones, oil, drugs, etc all remain exempt)
I need to write a post on "Wrong things that most people believe". A few might include:
* The War on Cancer was a failure
* America defunds social services to fund the military
* The F-35 was a useless boondoggle
* America lost the Iraq War