A new mercantilism is gripping the globe, and it is not driven by
It may have once been education, but that is no longer the case. It’s pure racism or cultural elitism to suggest that one nation is more adept at learning skills than another.
It may have once been freedom of capital, but that is no longer the case. There are probably fewer capital impediments, and certainly there are fewer other regulatory requirements (minor issues like human rights and the environment) in
It may have once been infrastructure, both physical and legal in the form of reliable rule of law, a dependable corporate framework, and solid intellectual property protections. These differences still exist to some extent, but they are also eroding, and are increasingly they are irrelevant as multinational corporations are involved globally, preventing them from enjoying the benefits of a single legal framework. Haier appliances (of
Is there anything left to justify the 10x wage multiplier between the