Story here. I don’t remotely understand stock, shares, technology and have limited understanding of international relations. Can anyone explain it simply?
Story here. I don’t remotely understand stock, shares, technology and have limited understanding of international relations. Can anyone explain it simply?
It’s bad because he used his power to personally enrich himself instead of acting in the nation’s best interest. Computer chip manufacturing market is one of the only comparative advantages that the United States has. A comparative advantage means that you can do something better than other nations, so you can get a better trade. For a simple example, Spain’s climate allows it to grow sweeter grapes than England’s, so Spain is able to produce higher quality wine. Because the wine is better in Spain, they can charge more money for it than the English can. Therefore, Spain has a comparative advantage in wine, and England is better off making something else and using the money to buy Spain’s wine. China doesn’t know how to make chips as good as the ones we make, yet, so we have a comparative advantage in computer chips. They’re trying though, and when they develop the technology they will seriously undercut the American chip market, if not cut us out altogether. It will seriously damage our economy, which is already struggling in most sectors.