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Labor, no matter how inexpensive, will become a less important asset for growth and employment expansion, with labor-intensive, process-oriented manufacturing becoming a less effective way for early-stage developing countries to enter the global economy.

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Michael Spence

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Natural’ is a word that has become unmoored by its meanings. If you go into a vitamin shop, things are natural, and people look at that, and they think it’s good. It’s no different than any other thing you swallow.

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For physical goods, there are costs associated with logistics and lead times, owing to inventories and poor forecasts of the market. With digital capital-intensive technology, however, production will inevitably move toward the final market, wherever it is. This re-localization constitutes a major shift in the structure of global supply networks.

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May 14, 2024

For physical goods, there are costs associated with logistics and lead times, owing to inventories and poor forecasts of the market. With digital capital-intensive technology, however, production will inevitably move toward the final market, wherever it is. This re-localization constitutes a major shift in the structure of global supply networks.

Previous

May 14, 2024

Natural’ is a word that has become unmoored by its meanings. If you go into a vitamin shop, things are natural, and people look at that, and they think it’s good. It’s no different than any other thing you swallow.

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