In fact, Hume had already thought that the manufacturing industry would run around and go from the land with high wages and high land prices to the land with low wages and low land prices.
So what’s the impact of this “go”?The rate of capital flow is always higher than the rate of labor flow. After “leaving”, where is the employment in the original place?
What about jobs back home?
The paper that Samuelson wrote just before his death began, in part, to revise Ricardo’s approach to open free trade.
He observed that if both the backward and the advanced countries made technological progress, and if dynamic technological progress led to dynamic changes in comparative advantage, and if one side moved faster and continuously faster than the other (Samuelson’s conclusion), the other side permanently harmed the other.
So this logic does not lead to a very optimistic policy of unconditional free trade all the time.
The impact of these problems on China’s economy after take-off is very big.
Despite our considerable economic aggregate, we are still decades behind the world’s advanced level in the most critical technologies and fields.
If international relations and inter-state relations continue to be strained, and the availability of advanced technology and knowledge decreases, it will be difficult for a flying economy to continue to fly, and there will be many violent bumps in the road.
Second, unlike any economic takeoff studied by economists in the past, The Size of China’s “plane” is extremely large.
It is an extremely large “plane”.It is not only oversized, but also extremely unbalanced internally — the income gap between different classes, between urban and rural areas, between regions.
And this has gotten a lot of attention, a lot of research.But the income gap is a superficial phenomenon. Behind it are differences in technology, in industry, in ideas, in scientific knowledge — and the difference is profound.
Today in different parts of China, although all Chinese people see eye to eye on some issues, if you dig deeper into certain areas, you will find that the gap between the views of Chinese people and Chinese people is sometimes even greater than the gap between the views of Chinese people and foreigners.