Well, western world sees labor cost exploding because libing in the west is fucking expensive. Chinese dont need as high salary because they can lice reasonably wmeven with those relatively low wages.
Try that in Europe or the US.
Yes but I already factored that all in.
I've long looked at how corrupt the NLRB and LRB equivalents are in US/Can (w.r.t union weaponisation), that have destroyed large swathes of capital intensive industries in both countries (making ecosystems go into forced zero sum game having to pick X labour or Y assets rather than judge and analyse optimally to grow the pie so that supply side pie increases for net benefit of all longer term).
They have literally come to the point in some states where secret ballots (on unionisation) are banned so that maximum coercion can be applied on employees that dont want to unionise (that the left wing lackeys be it politicians, gated elitists and media never want to talk about).
All things done in these latter day Rome stages due to the corrupt deals they run with leftist-oriented political parties they pander and bribe in return for captive votes
Its a long story on just how the auto industry was made radically noncompetitive by these same set of corrupt thugs in their earlier incarnation in the cold war.
I am not anti-union (it is worker bargaining) but there cannot be insertion of fascism+corruption into something originally more democratic and reasonable (worker safety based, minimum guarantees to set references for bargaining process, no coercion). It has long gotten out of hand.
Macro-economically it put huge brake on investment and transferred it to consumption....leading to large part of the higher living costs (price levels) you speak of in the first place.
This was the long term build up (consumption > investment) in the west of setting up the cart before the horse...and living beyond means (and the debt model showing up prominently now)....and the privileged delusions this all creates in larger way that have done the most to generate the underlying upstream for every anti-west reaction many people worldwide have now downstream in more diverse ways.
The CCP in comparison has coordinated a high capital, investment and asset acquiring model in many industries. In essence its the earlier incarnation of what the West had going for it before this transfer by ego/privilege (when the rest of the world was much more noncompetitive due to legacy of colonialism and severe underdevelopment etc).
i.e CCP learning from mistakes done in both the extreme that was found in USSR/eastern bloc and the variant of it found in the US and West w.r.t overvaluing of labour value theory in their respective ways.
The CCP has topped off and further distorted this (given pegged exchange rate) by forex stash of 3 trillion USD...that again undervalues the yuan (and labour price signalling in USD) which in turn also promotes capital flow in one direction (and its retention stickiness).
The CCP problem for them is they didnt expand this model to other sectors (given tradeoffs that appear there that are not politically/bureaucratically convenient given lack of reform) like construction, services and increasingly regular commerce and innovation. Essentially creating quasi-consumption problems there at early stage that the West burdens itself with in industry/manufacturing.
But that is longer story to get into and its impact is not marked by same duration of time the US and Western one has been (since cold war).
You always get a good idea of where these problems lie in each country when you delve into the debt size + components from the govt side (which is both coercive and populist based compared to general market forces).
Anyway this ties in with the F-35 and defence establishment pricing in the US in pretty sinewy ways in the end. To tie this back into the original topic.
IMO, Turkiye made right choice to go for KAAN, but it was of course after the F-35 exclusion was made apparent. Turkiye however has its own "too much consumption over investment" problem it has manufactured for itself needlessly that will stymie strategic development options as these all require funds in the end especially for human resources of the top tier to push things in chunks of 10 years.
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