[F]inally, linking that into the reorganization of the global value chain... [I]n many cases, unless the crisis really persists for 3, 4, 5 years... as soon as things become okay people will just say "Well, let's forget about it because reorganizing the value chain requires investment, hard work... Let's just go back to the old ways." So it's not certain... that... reorganization will happen, and even if it...[does], it will happen only in limited areas... [E]ven if the US wants to bring all the lost manufacturing production in... key sectors back home, it cannot do it. ...[T]hey don't have the supply network. They don't have the correct infrastructure. They don't have the necessary supply of technicians. ...[E]ven if it wanted, Apple cannot bring factories in China to California to make the mobile phones.
What It Means
This is a placeholder explanation generated by the low-overhead model. It interprets "[F]inally, linking that into the reorganization of the global value chain... [I]n many cases, unless the crisis really persists for 3, 4, 5 years... as soon as things become okay people will just say "Well, let's forget about it because reorganizing the value chain requires investment, hard work... Let's just go back to the old ways." So it's not certain... that... reorganization will happen, and even if it...[does], it will happen only in limited areas... [E]ven if the US wants to bring all the lost manufacturing production in... key sectors back home, it cannot do it. ...[T]hey don't have the supply network. They don't have the correct infrastructure. They don't have the necessary supply of technicians. ...[E]ven if it wanted, Apple cannot bring factories in China to California to make the mobile phones." in the context of "" to mean that wisdom is timeless.
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About Ha-Joon Chang