I'm sort of perplexed. They've had a big dig at the UK and Europe and didn't mention once the geopolitical imperatives of de-risking your supply chains. Just the old, out of fashion Ricardian comparative advantage which can strangle you given todays global geopolitical environment with trade sanctions. Goldman Sachs would be fully aware of this so I'm wondering what or whose angle they're trying to push. Weird
Media Reports, page-2400
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