This is one area where Trump’s thinking is transparent, the logic clear, and origin obvious. He’s thinking like a real estate slumlord with a huge insecurity around his own awful record as an “entrepreneur”, built primarily on a core competency of working the courts and tax laws.
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China is probably iterating and learning faster than the US in a few key areas, like batteries and solar or something. Maybe semiconductors in the future. But so long as the rest of the world can benefit from cheap Chinese innovation spillover, it’s good.
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Vast wealth was created around the world via cheap spillover of a century of US innovation. It’d be nice to have a twin-engined global innovation economy. It’s certainly needed to beat climate change, drive development in Africa, beat aging population problem with robots, etc.
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Even with its fatal ideological flaws and a flawed economic doctrine, the USSR did a ton of wealth-creating innovation. So did Japan. Whether Chinese playbook works or not politically/ideologically, we’ll probably end up with some good rewards from the grand Chinese experiment
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End of conversation
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One could argue that that narrative was the case already: we had a spin up in knowledge creation in the US (Meds/Eds) with China implementing those spillovers with industrial policy. Nothing the US likes more than to kill their own golden geese.
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Loss of manufacturing industries is a big deal for many.
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