Money is a useless abstraction and this is proof of it. Without asian factories and african/asian mines global north countries can't manufacture shit these days.
this post was submitted on 18 Apr 2022
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Yeah, people tend to conflate financial economy with real economy and the two things are not the same. What ultimately matters is whether countries are able to produce the things they need to meet the needs of their people. The west outsourced much of its production to Asia and put itself in a very vulnerable position by doing so.
Exactly
Financial capital went where there is easy profit. Through which east industrialised. Capitalists dig their own grave.
I don't think it's just a matter of profit. There's also a matter of social acceptability: industry is very polluting and has real bad working conditions. Outsourcing those major downsides to remote countries is a good way to make consumerism socially acceptable: think about it, if your cousins/neighbors were the wage slaves working and dying in the mines and factories to produce smartphones, you would even buy one? We would have massive boycotts and sabotage/expropriation campaigns.
Yes profit.
Sure sure, i'm not saying it's not the ultimate motivation, i'm just saying it's important to note it's not just about labor prices as is often explained by the media.
Don't take it as a dig my friend.