I was trying to find a good dataset for this, also to be able to compare broader than just CA vs US... but it looks like I need to build some custom query on the OECD dataset... lol
Well we do hate producing stuff almost as much as them. What kind of civil, educated society actually makes things? We have poors in far off lands to do that for us.
China won the trade war. China makes things much more efficiently than any western industry can. Neoliberalism hollowed out western engineering capacity and viability...and outsourced much of it to China.
US figures may show a modest increase due to the state funded investments Trump is making in response to China winning the trade war- investments in AI, rare earths, microchip fabrication and automotive assembly also supported by a large tariff program.
Despite the US drive to revive US industry the systemic changes required to make USA competitive again with China are far more extensive than anything Trumps tariffs and state capitalist spending are doing.
China has won the trade war and so now USA is trying to militarily cut off Chinas energy supplies and strategic trade partners while reinforcing petrodollar hegemony.
The clock is ticking as US military industrial combine cannot produce most of its high tech miltary products while Chinas embargo on export of refined rare earths to any US associated military purposed end user remains in place.
Trump may be hoping to cut off Chinas oil and gas imports and bargain for restoration of refined rare earths supply...at least until US allied refined rare earths supplies are available, which is still several years away.
From a market led perspective it makes no sense to make in your own country like Canada or New Zealand when China can manufacture at much lower cost- it is only because US de-industrialisation has military and strategic consequences that Trump and Biden have embarked up major state capitalist investments and tariffs.
How much of that is automotive?
Not sure. I will see if I can find a breakdown by sector.
I was trying to find a good dataset for this, also to be able to compare broader than just CA vs US... but it looks like I need to build some custom query on the OECD dataset... lol
Covid is barely a blip on that downturn.
Supreme Leader Carney will fix it.
I didn't realize you guys had like 3 GFC's
Since this is industrial focused it is probably reflective of the boom bust cycles in oil and mining.
Maybe, but it's almost identical to trends I've seen out of Europe
Well we do hate producing stuff almost as much as them. What kind of civil, educated society actually makes things? We have poors in far off lands to do that for us.
Shocking as in a surprise? Or just shocking as in how bad it is
How bad it is. I shouldn't be surprised.
that’s what I figured. You’re pretty in tune
Don't tell it is because of Trump 😂
Yes, don't you know everything that is wrong with Canada is Trump's fault. Definitely not a consequences of poor decision making the last two decades.
If you look at the graph it starts free falling doing Trump's first tenure, I'm just saying
Yup. Orange man bad.
Our largest sector of the GDP is real estate, it’s nuts
Money supply exploded over the last two decades. It all got parked in real estate and now real estate is rolling over (or at very least stagnating).
China is basically manufacturing everything now so I don't blame the country
Completely ostracizing the natural resource sector which is one of Canada's competitive advantages was a pretty stupid strategy.
China won the trade war.
China makes things much more efficiently than any western industry can.
Neoliberalism hollowed out western engineering capacity and viability...and outsourced much of it to China.
US figures may show a modest increase due to the state funded investments Trump is making in response to China winning the trade war- investments in AI, rare earths, microchip fabrication and automotive assembly also supported by a large tariff program.
Despite the US drive to revive US industry the systemic changes required to make USA competitive again with China are far more extensive than anything Trumps tariffs and state capitalist spending are doing.
China has won the trade war and so now USA is trying to militarily cut off Chinas energy supplies and strategic trade partners while reinforcing petrodollar hegemony.
The clock is ticking as US military industrial combine cannot produce most of its high tech miltary products while Chinas embargo on export of refined rare earths to any US associated military purposed end user remains in place.
Trump may be hoping to cut off Chinas oil and gas imports and bargain for restoration of refined rare earths supply...at least until US allied refined rare earths supplies are available, which is still several years away.
From a market led perspective it makes no sense to make in your own country like Canada or New Zealand when China can manufacture at much lower cost- it is only because US de-industrialisation has military and strategic consequences that Trump and Biden have embarked up major state capitalist investments and tariffs.