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a huge amount, 80, 90% of the precursor chemicals that go into US pharmaceuticals are made overseas, majority in China or India.
We discovered that the Chinese became unreliable suppliers.
When you have competitors, whether China, Vietnam, some others, sometimes in Europe, that have high subsidies, then like this idea that perfect Ricardian equivalence exists, doesn't.
when Beijing announced that they were going to put a worldwide export license on any, any product that had 0.01% of Chinese for earths in it, which would have ground the Western trading system to a halt.
the Chinese business model is based on volume. It's based on employment. It's based on a five year plan. And I think everyone neglected the idea that despite the tar, the tariffs, the Chinese were going to keep producing