Comment by walthamstow
1 day ago
Agreed. For that economy to come back, you need all possible competitors to be weak and poor, in the mid 20th century that meant either still agrarian (China) or rebuilding after war (Japan and Europe). It was a unique moment and it's never coming back.
China wasn't a factor in global economics until the 90s, and Europe only was relevant for US growth for a very short time following WW2 and the Marshall Plan.
This doesn't make any sense at all. The reason China is dominant in manufacturing isn't because the other countries of the world were weak and agrarian and rebuilding after war.
What would be awesome is if half-assed finance bro speeches weren't being thrown around as serious macro.
They were talking about economic boom, not manufacturing dominance.