Debunking Economics - the podcast The trade war has begun
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Feb 19, 2025 A potential global trade war looms as the U.S. considers imposing tariffs on every OECD country. Discussions center on the complexities of international supply chains and whether returning jobs to America is feasible or chaotic. The implications of automation on job creation are debated, questioning if current economic strategies can truly benefit domestic industries. The ripple effects of tariffs on businesses and consumers highlight the unpredictable nature of leadership in today's geopolitical landscape.
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China's Labor Exploitation
- American companies exploited cheap labor in China starting in the 1980s.
- They relocated production, creating unemployment in America.
Globalization's Impact on American Workers
- While American capitalists benefited from globalization, American workers suffered job losses and declining wages.
- This disparity fueled the rise of blue-collar Republicans.
Tariffs and Supply Chains
- Globalization has led to complex international supply chains.
- Tariffs disrupt these chains, increasing costs and potentially hindering innovation.