[lotsofpulp]

> That kind of thinking will lead you to believe offshoring your fabs is a good idea, because is reduces assets in the denominator.

I am under the impression that offshoring fabs is a good idea due to drastically lower labor costs and other costs such as complying with environmental regulations as well as legal costs arising from those regulations. At least it was, and now there may be supply chain advantages to the offshore fabs.