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Comment by nicoburns | Hacker News Reader

> I'm not sure how you solve that in a finance centered economy with no local industry

You change it to be a not-finance-centered economy.

If you find a good strategy for Reindustrialization especially in developed countries that have gotten used to high wage white collar work please share it around. Are there any good countries to look at for this?

OP is not charge of the world economy but this just seems defeatist.

Maybe a little cynical, but genuinely if any country has got some good strategies for building industry back up after a decline I think we should be stealing their notes. Right now arguably China seems like the only one to me? And I'd definitely favor trying their massive state investment, but I'm not sure if the UK can do that one.

China rebuilt industry with heavy-handed state control and no concern for human rights. Impressive results, but not exactly a model.

> Right now arguably China seems like the only one to me?

They didn't build it up on their own. They saw opportunity in western businesses who wanted lower wages and less strict environmental laws, and lured them in. The western businesses then moved all their manufacturing to China who then spied on these factories to out-compete the western businesses with "home grown" products they copied.

Nobody with money (i.e. in finance) thinks this is a good idea, so there's no funding available.

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