Even if one country is better at making everything, it doesn't have a comparative advantage in everything. That's impossible. Every country has a comparative advantage at something! That's why in the theory of comparative advantage, trade is balanced. In the real world, China's massive trade surplus means that trade is not balanced; much of the time, China isn't trading goods for other goods, it's trading goods for IOUs.
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We are living in a technological cold war where there is an iron curtain increasingly developing uh being drawn up between mainly China and the US. And what is clear to me is that increasingly uh Hong Kong is getting looped into mainland China. This I think may be net bad for the financial services sector in Hong Kong which relies on being a crossber hub not just of funds and financing as you know but also of talent and IP.
China Decode
Trump has delivered on his promise of unconditional surrender. The problem is we're the ones unconditionally surrendering.
Pivot
How do we do away with the the transfer and the cost of transferring money from an anxious, obese, and depressed generation to the wealthiest generation in the history of the planet, and that is baby boomers.
Office Hours