>There's a pretty clear prosperity heirarchy in the world economy and the financing/services dominant economies are ahead of the manufacturing economies who are ahead of the ag/raw materials economies.
This is very wrong, in the sense that not everyone can do "financing/services". Lots of people, even some on this website in fact, pretend that everyone can but it just isn't true. What financializing your economy does is exacerbate existing inequalities, or build new ones where they didn't exist.
It's also, ahem, a very bad idea to intentionally deconstruct your industrial base so you can make a couple bps every quarter. The reasons for this should be quite obvious, but since for many they apparently are not ... there are very real geopolitical tensions between PRC and the US, and these tensions present a very real possibility of war. Should that happen, PRC will have the ability to squeeze US supply chains in a very devastating way. This isn't to say it would provide them an easy path to victory, but just the ability to do this increases the probability that they would initiate a conflict in the first place. This is to say that there is no such thing as a "prosperity chain" that everyone should all strive to emulate.
This is very wrong, in the sense that not everyone can do "financing/services". Lots of people, even some on this website in fact, pretend that everyone can but it just isn't true. What financializing your economy does is exacerbate existing inequalities, or build new ones where they didn't exist.
It's also, ahem, a very bad idea to intentionally deconstruct your industrial base so you can make a couple bps every quarter. The reasons for this should be quite obvious, but since for many they apparently are not ... there are very real geopolitical tensions between PRC and the US, and these tensions present a very real possibility of war. Should that happen, PRC will have the ability to squeeze US supply chains in a very devastating way. This isn't to say it would provide them an easy path to victory, but just the ability to do this increases the probability that they would initiate a conflict in the first place. This is to say that there is no such thing as a "prosperity chain" that everyone should all strive to emulate.