03-25-2024, 11:29 AM
The exporter can simply cut off exports, and the importer figuratively starves. In the case of China versus the US, it took many decades to build up China into the manufacturing superpower it is. It would take many decades to get it back. Even manufactured goods that are listed as "made in the US" are composed of mostly Chinese materials at some point. If China cut off exports, these supplies dry up overnight.
I'm all for boosting my domestic production, but let's not live in a fantasy. As for switching to a new exporter, who are we going to buy from, the EU?
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