[I]n the United States... official unemployment is at... 15-16% but if you count the... number of people who have become newly unemployed, counted by… - Ha-Joon Chang

[I]t's a fantasy ...to reshore or bring back home the bulk of manufacturing that have migrated to China and other developing countries ...[I]t just cannot be done, but... people are already thinking about ways to diversify the sources of and production so that... [when] one part of the system goes wrong, the other part is able to cope.

I have a six-year-old son. His name is Jin-Gyu. He lives off me, yet he is quite capable of making a living. I pay for his lodging, food, education and health care. But millions of children of his age already have jobs. Daniel Defoe, in the 18th century, thought that children could earn a living from the age of four.
Moreover, working might do Jin-Gyu's character a world of good. Right now he lives in an economic bubble with no sense of the value of money. He has zero appreciation of the efforts his mother and I make on his behalf, subsidizing his idle existence and cocooning him from harsh reality. He is over-protected and needs to be exposed to competition, so that he can become a more productive person. Thinking about it, the more competition he is exposed to and the sooner this is done, the better it will be for his future development. It will whip him into a mentality that is ready for hard work. I should make him quit school and get a job. Perhaps I could move to a country where child labour is still tolerated, if not legal, to give him more choice in employment.

[F]inally, linking that into the reorganization of the ... [I]n many cases, unless the crisis really persists for 3, 4, 5 years... as soon as things become okay people will just say "Well, let's forget about it because reorganizing the value chain requires investment, hard work... Let's just go back to the old ways." So it's not certain... that... reorganization will happen, and even if it...[does], it will happen only in limited areas... [E]ven if the US wants to bring all the lost manufacturing production in... key sectors back home, it cannot do it. ...[T]hey don't have the supply network. They don't have the correct infrastructure. They don't have the necessary supply of technicians. ...[E]ven if it wanted, Apple cannot bring factories in China to California to make the s.