All countries implied are in economic turmoil, in an economic union in turmoil, populations shrinking, far right parties on the rise, in economic stagnation. Sure maybe an exaggeration to say "all" but certainly you can't pretend that the specialization you speak of is not reaching some kind of boiling point.
Banking and watch making are jobs for the few, a society needs to provide jobs to the masses.
The specialization has been active for some time but as a long term trend it seems flawed to me.
Quote:
Originally Posted by alterergo
Sorry, I don't quite understand your comment. If you have access to global market, you specialize. That has been the secret of growth since Adam Smith.
Some will specialize in manufacturing and build an impressive manufacturing base but with heavy polluting factories, clouds out of smog, and rampant environmental degradation.
Otherwise will specialize in services: tourism first and foremost, banking, education. They will also make nice watches, and some high precision machinery, but the base of the economy will still be services. No heavy manufacturing base, no problem! Just enter international trade.
(would you like to guess the countries?)
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