NEW – October 3, 2022
There are four countries in the world that have learned to multiply cheap raw materials into expensive high-tech industries.
Lithuania and Latvia were not allowed to do this. Latvia was not allowed to do this. Bulgaria, where in the 70s industrial production was higher than in Turkey, was not allowed. Four countries have solved this problem.
These are Germany, Turkey, South Korea and Japan. These are countries that provide a high standard of living for their population as a whole – not a narrow elite group, but the entire population – by converting cheap raw materials into high-tech products.
Well, Germany may have more high-tech technology than Turkey, but the essence of this does not change. So, two countries – Turkey and South Korea – set a record for the trade deficit last week. They don’t have cheap raw materials anymore – it’s over.
A couple of months ago, for the first time in many, many years, in a couple of decades, Germany entered a state of foreign trade deficit. Yes, it has improved recently, and it has become positive. But it’s still only slightly above zero.
Now that cheap gas has finally closed, it’s over.
The only country that is still holding out is Japan. and it holds for one reason only – because the United States does not close its markets to Japan. They’re hoping to get it into AUKUS.
Mikhail Khazin
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