What if...
Central Indiana
- Joined
- May 3, 2019
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The 2008 recession happened for much different reasons - mostly from subprime loans and fraud in the banking and finance sectors.
Markets outside of China are still strong. The US market demand is still strong - people have some money and need to buy things. If China can't provide products, we can make them here in the US. We have our own raw materials and agricultural base.
ITA! I’ll also add (MOO), that the longer this thing drags on, and assuming that the virus remains relatively contained to China, this whole event will likely drive up markets elsewhere in the world. All markets will probably take some short term hits, largely due to decreased imports to China and manufacturing supply issues due to factories that are now closed in China. But in the long run, China will have to be focused on cleaning up the aftermath of this breakout (assuming they regain control of it), and they more than likely will struggle for years with PR issues which will require at least some level of proof that measures have been put in place that will greatly reduce the chances of a repeat.
More than likely, there are conversations in boardrooms around the globe that are taking place right now regarding options to either move (and/or) diversify their manufacturing plants in an effort to avoid another situation like this one. Any such moves will result in a net gain for any country on the receiving end of said changes.
China has a long history of providing cheap labor, and, unfortunately, you often get what you pay for.
In this particular case, the costs for the cheap labor aren’t specific to the quality of the products being produced, but rather the hidden costs that come into play with the non tangible philosophies and policies of various governments that are willing to put human rights, as well as the whole of humanity, towards the bottom of their priority lists.
I truly feel for the people of China, but I can’t say I have much sympathy for their ruling government. When it comes to the topic of viral outbreaks that have the potential for a devastating global pandemic - they have been PLAYING WITH FIRE for years.
Apologies for the rant, but I personally find this whole situation very (inset a wide variety of obscenities here!!)
The most disturbing part of this whole thing, at least in my opinion, is that it has never been a question as to whether or not a catastrophic event such as this one (or worse) would emerge from this corner of the world - the real question has always been “when?”
So, sorry, but not sorry!