Joequant

🇮🇷🇺🇸 The Iran war has hit U.S weapons stockpiles HARD On average, they used a THIRD of their inventory, with THAAD and Patriot interceptors taking some of the hardest hits And if that's not bad enough, the figures are from a CSIS report in April, it doesn't include all the weapons used in the latest round of fighting Source: CSIS / Writer: Ian

That’s true, a few lucky countries have gotten extensive industrial investment from Chinese companies but that still leaves many developing countries with less FDI than they would’ve received without massive financial subsidies to Chinese firms

This is the kind of unfalsifiable counterfactual we should be more comfortable rejecting on intellectual principle. "They would have received more FDI if not for Chinese domestic subsidies" is not a real argument unless you can specify which sectors, which countries, which subsidies, and which mechanisms would link the subsidies to the missing investment. The evidence we have suggests the opposite. Per the very platforms like CEPR that are most worried about China Shock 2.0, Chinese policy support is concentrated in strategic/high-tech segments, not in the low-end manufacturing that developing countries would plausibly be competing with China for. So the explanatory power of subsidies for China's competitiveness in low-end consumer goods sectors like toys or apparel is quite weak, and hard to connect to a "missing FDI" counterfactual. It's the productivity ecosystems, logistics, energy networks, industrial clusters, supplier depth, etc... Not wages, and not subsidies! 1/2

And are working and living in America. This is what we want more of as a country