The new coronavirus Covid-19 will end up being the final curtain on China’s nearly 30 year role as the world’s leading manufacturer.
“Using China as a hub...that model died this week, I think,” says Vladimir Signorelli, head of Bretton Woods Research, a macro investment research firm.
China’s economy is getting hit much harder by the coronavirus outbreak than markets currently recognize. Wall Street appeared to be the last to realize this last week. The S&P 500 fell over 8%, the worst performing market of all the big coronavirus infected nations. Even Italy, which has over a thousand cases now, did better last week than the U.S.
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10 comments:
I hope it means more jobs in the US.
Don't bet on it 413. More like a shift of those jobs to other Asian countries, or maybe even African countries, whose labor laws and wages are more akin to what China's were back in the 90's
If we can’t keep Democrats from raising the corporate taxes they’ll just go somewhere else
Good be the shift the global community needs.
Would love to see manufacturing return to U.S. soil.
As it should be
440
I agree with you.
The financiers (owners of the corporations) simply do what is in their best interest.
They generate profit.
Back during the Clinton Administration that meant sending manufacturing to China.
Then, to South Korea.
Now?
I don't personally know. But there are many people who actually know where is the best place to manufacture each product. For instance, technical manufacturing (skilled jobs) are in China. But unskilled manufacturing might be in Africa? I don't know. But the US is unattractive because of the relative high wages demanded by Americans.
You really are that stupid huh? You really think taxes, not cheap labor, drove businesses over seas?
AS nice as it sounds, China will just buy the foreign companies or build manufacturing plants is other countries.
Don't forget that China owns all the Smithfield bacon companies as well as others. And they only allow made in China equipment in their plants.
You are a fat, fascist asshole and I hope your business fails.
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