China announces 25% tariffs on $16B worth US goods

Re:China announces 25% tariffs on $16B worth US goods by onlyrealcuzzo on Wednesday August 08, 2018 @12:28PM (#17717242)

I don't think it's a joke. At least in the US, the free market values services a lot more than manufacturing. Services make up 79.6 of the U.S economy [1].

Granted, I don't have the stat for the entire world, so it might be bigger. Considering the US and EU are half of global GDP, I doubt it.

1) https://2016.trade.gov/publications/ita-newsletter/1010/serv...

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Re:China announces 25% tariffs on $16B worth US goods by crimsonalucard on Wednesday August 08, 2018 @12:51PM (#17717397)

Trust me, a modern technological economy exists because human labor is augmented by physical machines. You take away the machines you'd have a service economy similar to services provided during a time when modern machinery was nonexistent (the stone age).

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