Transitioning from a production-based to a consumption-based economy
While manufacturing relocates to the central regions, it will allow eastern labor to upgrade toward a service-oriented economy—building out “gods” across our service industries.
On one hand, this lets central-region workers find jobs close to home, balancing work and family life. On the other, what is the essence of a consumption-driven society?
It’s that when wealthy older people spend locally, the middle class around them earns money; and once the middle class earns money, more service workers who cater to them can earn too. By upgrading the eastern workforce toward services, we create product premium.
Again, on one hand, this lets central-region workers find jobs close to home, balancing work and family life. On the other, what is the essence of a consumption-driven society?
It’s that when wealthy older people spend locally, the middle class around them earns money; and once the middle class earns money, more service workers who cater to them can earn too. You have to make wealthy consumers willing to spend—just as improving the business environment matters, so too does improving the consumption environment.
They’re spending to buy happiness, not to buy frustration.
