/biz/ - Business & Finance

your time is coming tradecucks, enjoy your work being outsourced to pablo and juan

>>1747259
Automation will probably end "globalization" in the classical sense for better or worse... China will probably be the last nation that caught the wave of modernizing themselves off exploiting their cheap labour supply. If that's true it means there's no real way of developing third world countries out of poverty and they will have to accept they will always remain poor while the first world develops even faster... that'll cause a real geopolitical mess because the majority of the world won't accept they have no chance of ever catching up.

https://www.stratfor.com/weekly/rise-manufacturing-marks-fall-globalization

You're not just competing with third world labour for employment but also machines and AI. The amount of "jobs" necessary for the same/more amount of output will keep decreasing because that's how development works.

>>1747312
>So if we abandon globalism, Americans will need to save money instead of buying on credit.
You mean hoard money/gold under their beds or find profitable investments at home? The maldistribution of income, favouring the wealthy, is what led to imperialism in the first place, the wealthy had such a high rate of savings in the 19th century they could only find profitable investment opportunities overseas without triggering cut throat competition that would ruin their investments.

https://en.wikipedia.org/wiki/Imperialism_(Hobson)