Gotta disagree with one bit though.
The West isn't "too lazy to do anything anything really.... can't produce an iron hammer." I think there are plenty of Westerners who want to work hard, including in the trades. I could say especially in the trades even. I think it might be more a case of "the West is too greedy to pay for its hammers to be made in the West".
Someone once said that capitalists would sell them the rope they needed to strangle us. I think this is an example of it.
Iron ore price, page-54646
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