Autor and Hanson: "Policymakers are spending far too much time looking backward, fighting the last war. They should be spending much more time examining what’s emerging as a new China Shock.
Spoiler alert: This one could be far worse."
Posting this counterpoint here:
Michael J. Hicks
@HicksCBER
07-15
Superb thread. I'll note that my (intentionally) very simple accounting model of imports, productivity and net demand (domestic and exports) concludes 15% of China Shock job losses were due to import substitution. x.com/jbsteinberg/st…
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