🙌
but if there is a hot war and the productive capacity of a country has been farmed out to an adversary, so maybe a national security reason to reshore a manufacturing base.
But won’t tariffs also introduce a lot of uncertainty going forward—because it changes the incentive structure between nations?
The issue is, governments on both sides making sure most of the money goes to the elites rather than building up the population of the poorer country.
If they weren't siphoning off the top the income inequality between the two trading nations would always trend towards 0.
A problem that solves itself, as long as your leaders aren't a crooks.
