Dajia Picks

Profit and loss stem from the same source: if you don't play, you won't lose; but at the same time, if you don't play, you'll never have a chance to win.
Zoom out to an entire lifetime, and the idea holds. If you never try anything, you'll never taste failure, but your life overall will be unremarkable. If you try everything, you're bound to encounter all kinds of setbacks and troubles.

In a production-oriented society, what is wealth? A poor population is wealth, as it keeps production costs sufficiently low. In a consumption-oriented society, what is wealth? A wealthy population is wealth, because only those with money can consume.

If you're relying on foreign demand, wages can't be high, or costs suffer. If foreign demand isn't reliable and you have to depend on domestic demand instead, you're left with the path of higher incomes and higher prices to stimulate demand.