You see, this is the problem. Europeans always think about who they rely on, and never think about relying on themselves. And they give this behavior a high-sounding name: supply chain diversification
That's not a problem. The world is large. Europeans are leader on key sectors too like photolitography. Buying is ok as long as there are multiple options.
Mercantilism is an idea of the past. The main issue is that American are deluded enough to vote for someone who thinks it's relevant.
When one of your trade partner decides to commit suicide by imposing tariffs on everyone and threaten to not supply you anymore, the correct solution is not to turn inward for everything, it's to turn to other partners which are not acting like buffoons.
Supply chain diversification is certainly not a problem; it can even be considered excellent. However, supply chain diversification isn't the opposite of independence; it should be a complement to it. You need independent capabilities to survive external changes. Supply chain diversification, on the other hand, allows you to thrive even when external conditions are favorable.
The problem in Europe is that they've placed too much faith in supply chain diversification and almost completely abandoned independent capabilities.
StopDisinfo910|6 months ago
Mercantilism is an idea of the past. The main issue is that American are deluded enough to vote for someone who thinks it's relevant.
When one of your trade partner decides to commit suicide by imposing tariffs on everyone and threaten to not supply you anymore, the correct solution is not to turn inward for everything, it's to turn to other partners which are not acting like buffoons.
SilentTiger|6 months ago
The problem in Europe is that they've placed too much faith in supply chain diversification and almost completely abandoned independent capabilities.