Quotation of the Day…

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… is from page 60 of the print-edition version, in the January/February 2025 issue of Reason, of Johan Norberg’s superb essay (forthcoming on-line) “The Real Threat Is An Isolated China” (link added):

Trump has often complained that China is the biggest beneficiary of the iPhone, just because the devices are often assembled there. But when researchers Kenneth L. Kraemer, Greg Linden, and Jason Dedrick dissembled and iPhone 7 in 2018, they found that almost all of its value was captured by Western producers of parts, including hundreds of thousands of American researchers, designers, programmers, salespeople, marketers, retailers, and warehouse workers. China just got 1.3 percent of the price paid for an iPhone, and that offshoring made it possible to move U.S. labor to the more value-added parts of the supply chain.