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WOTD: "By creating overcapacity, China is forcibly deindustrializing every single one of its geopolitical rivals." Noah Smith
Noah's point (observation) is that China is flooding the markets of the world with goods that are so inexpensive, that local industries are folding.
It's not the doors falling off Boeing in mid flight, it's that COMAC is too cheap. It's not that Fiat closed manufacturing plants in Italy, it's that Chery Automotive group wants to make car cars too cheap built in Italy.
Reminds me of the brief time in the late 80s early 90s where we got movies like Rising Sun which villainized the Japanese for their work ethic and business accumen rather than being a group of defeated racist.
@kwtree you were asking: "How can they make people use? Crypto that don't want to use it if my employer wants to keep paying me in USD how can that be changed?"
https://www.reuters.com/markets/currencies/russias-putin-questions-need-dollar-forex-reserves-touts-bitcoin-2024-12-04/
This is how.