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Possible for country to be self-reliant in global economy


shootingstar
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So free trade has allowed North America to offshore some manufacturing more cheaply to China (and other Asian countries).  But this virus has led to Chinese manufacturing plant slowdown/shutdown temporarily and has disrupted some supply chain links.  It is moment in history...a teaching moment when looking back decades from now.

So are we willing to pay abit more if we produce some of the parts in our own country? 

If this virus had happened in the 1970's, China was not even on the map at all as a cheap manufacturer of parts, etc. for North America/Europe.  Country was in lockdown in serious military Communism, people not allowed to even travel/visit overseas as tourists, people thrown in jail for having bourgeoise "imperialist" background and anti-intellectual by destroying/shutting down its universities. There was a trade embargo between China and North America.  It was..I believe Canada to first make overtures to Chinese leadership to resume diplomatic, hence trade.  (It's easier....since our minds don't confuse between socialism and communism..B) )

Now in 21st century, we are even more interconnected to each other's country's economy and..viruses 'cause of easier global travel.  Sometimes that's not great....we need to go back to cave time and sit around our own fires.

 

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https://www.cbc.ca/news/politics/coronavirus-supply-chains-1.5488730

"Approximately 10 per cent of Canadian imports of intermediate products — goods destined for Canadian plants to be made into something else — come from China. That seems like a low number — but don't be too comforted by it.

"Our business is kind of funny. You're building everything just in time and a very small part can stop a line," said Flavio Volpe, president of the Automotive Parts Manufacturer's Association. "You're building a complete car in sequence, so every part has to be there."

Shipping logistics dictate that larger, more complex automotive parts come from facilities that are geographically close to final assembly plants. Parts from China are usually electronics, or smaller commodity goods like clips, fasteners or seals.

"We've now tipped into our contingency planning — where can you re-source?" Volpe said."

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