Trumponomics Is Economic Self-Sufficiency a Myth?
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Aug 20, 2025 Ben Chu, a journalist and author of Exile Economics, joins to explore the complexities of globalization. He challenges the idea of economic self-sufficiency, especially in food production, revealing the risks tied to deglobalization. Through personal stories, he illustrates the transformative effects of global trade on his family. Chu argues that genuine security stems from wealth rather than mere self-production, while also highlighting the intricate balance between globalization and protectionism in today's economy.
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Personal Family Story Of Globalisation
- Ben Chu recounts visiting his father's family in China in 1985 and seeing frugal living conditions and limited consumer goods.
- He contrasts that with modern China to illustrate globalization's tangible benefits for his family.
Supply Chains Are Deeply Entangled
- Ben Chu argues many supply chains are too complex to fully nationalize without major lifestyle changes.
- He warns rolling up global supply chains would be extremely costly and disruptive.
Local Food Self-Sufficiency Is Unrealistic
- Chu cites a study showing only 25% of people could feed themselves within a 100km radius of where they live.
- He concludes food self-sufficiency is infeasible for most countries and diets would change drastically.
