The Real Economic Problem Is Not the Closedown

The Real Economic Problem Is Not the Closedown

The danger in the shouting and finger-pointing is that a sick economy will be blamed on the closedown, not on the debt burden.  Reopening the economy does not make the debt burden disappear.  Michael Hudson and I have tried to focus the public and policymakers on the real problem.  So far we have been unsuccessful.

Even before the Pandemic, US Companies were seeking to move manufacturing base from China to India

Even before the Pandemic, US Companies were seeking to move manufacturing base from China to India

Related:

PM Modi signals push to attract firms that exit China to India – Times of India

In fact, countries such as the US are already working to accelerate this drive, with secretary of state Mike Pompeo stating on Thursday that the Trump administration was trying to “mesh the supply chains that both countries (India and the US) have access to”, especially in areas crucial for national security.