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A comment on TSMC founder Morris Chang says globalization and free trade 'almost dead'. Parent comment

Re:TSMC founder Morris Chang says globalization and free tra... by snowwrestler on Wednesday December 07, 2022 @10:32PM (#33903816)
> Globalization in its recent form has been all about exploiting labor cost differences.

I disagree. The U.S. which has relatively high labor costs, has nevertheless been a leading recipient of foreign direct investment.

Specialization is a far stronger driver. Labor cost differentials narrow over time but specialization can be compounding.

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Re:TSMC founder Morris Chang says globalization and free tra... by throwaway2037 on Wednesday December 07, 2022 @11:37PM (#33904212)
Your last paragraph is important. This explains why highly specialised goods continue to be produced in wealthy countries, such as US, Switzerland, Germany, Austria, Korea, and Japan.
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