Although China's share of manufacturing it eye watering, on it's own the US produces more than half as much as China. In fact the story the article is telling is how China is no longer just a manufacturing story as it's economy diversifies and matures.
De-globalisation would be a disaster for developing countries. Being under-developed makes them heavily dependent on developed countries, they can only develop by increasing their engagement and integration with the global economy. Globalisation promotes access to technology and skills, access to markets, access to development capital. Cutting that off globally would be a humanitarian disaster and permanently relegate the developing world to economic backwater status.
Localisation reduces efficiency, that means production requires more labour, more energy and produces less surplus value. It makes local development harder, not easier.
We have seen this play out with recent experiments with protectionism. Tariffs to protect US manufacturing hammered US manufacturing, by cutting off supplies of parts and raw materials. In the longer term retaliatory tariffs would have cut off access to foreign markets for US goods too.
Ultimately, globalisation is about individual liberties. The freedom to travel, to communicate and trade on equitable terms with whoever you choose. Are you really saying that this is a bad thing that must be stopped?
De-globalisation would be a disaster for developing countries. Being under-developed makes them heavily dependent on developed countries, they can only develop by increasing their engagement and integration with the global economy. Globalisation promotes access to technology and skills, access to markets, access to development capital. Cutting that off globally would be a humanitarian disaster and permanently relegate the developing world to economic backwater status.
Localisation reduces efficiency, that means production requires more labour, more energy and produces less surplus value. It makes local development harder, not easier.
We have seen this play out with recent experiments with protectionism. Tariffs to protect US manufacturing hammered US manufacturing, by cutting off supplies of parts and raw materials. In the longer term retaliatory tariffs would have cut off access to foreign markets for US goods too.
Ultimately, globalisation is about individual liberties. The freedom to travel, to communicate and trade on equitable terms with whoever you choose. Are you really saying that this is a bad thing that must be stopped?