Also, people act like America has no manufacturing capacity to speak of. It seems like a poorly known fact, that America remains a strong #2 behind China in terms of the volume of manufactured goods. Given China’s demographic challenges, and the increasingly risky investment environment there, with Xi going down the Maoist route, it’s not even impossible to think of a future where America regains is crown as #1. I think America would have to liberalize immigration, among other things, to support that. But it’s no longer an impossible future.
Discussion
Tell the people who believe that to take a flight to Vegas this week for ConExpo and talk to the exhibitors. Unbelievable amount being produced domestically.
I don't disagree with any of that. China is uninvestable now given the last few years. Too risky and there are a lot of cracks in the China model. I remain bullish on the US.