I used to think that export controls didn't work, until I realized that China has leapfrogged the West on every technology that wasn't subject to export controls.
To be brutally frank, this was always going to happen when Western countries outsourced their manufacturing.
And all of the rationales were self serving garbage, it was about juicing the next quarters numbers.
Fundamentally though, it's the removal of capital controls that has driven a lot of this behaviour, and it's amusing to me that reintroducing them is so far beyond the Overton window that it never even comes up.
And all of the rationales were self serving garbage, it was about juicing the next quarters numbers.
Fundamentally though, it's the removal of capital controls that has driven a lot of this behaviour, and it's amusing to me that reintroducing them is so far beyond the Overton window that it never even comes up.