your right conditions in China have vastly improved in a short period of time. which if things stay on course will probably level the wage playing field with the rest of the world. but right now the countries industrial birth is on par with what our own country experienced at the dawn of the industrial revolution with low wages and excessive work weeks. and because of this the people only work hard enough to keep their job. when working conditions improve there will be a huge middle class boom in China and the people will enjoy luxaries they have never dreamed of. they will work hard, have pride in what they do and overpower the economies of the rest of the first world. and im scared to think what will happen with the lazy, gluttonous, arrogant people of our country when the economic gravy train is over.
there is a flaw with your statement. you have to remember our country has experienced economic success mostly because of international sales, not just regional and national markets. if you tariff imports then as a counter your exports will be tariffed by other nations and many companies that rely on foreign markets would be doomed. stopping free trade is not the answer and our politicians knew that…which is why NAFTA was passed.
To get this back on topic. I believe davis will do alot of good in Congress. He is a self made millionaire, paying for his own campaign, running Independant as to not try to affiliate himself either either party’s bitching and drama. He seems like a lagit working man trying to improve his country for other blue collar working class people :tup:
Situation A: residents of hypothetical country have total net income of $1,000,000 and 10 wage earners each earning $100,000. Average income is $100,000 and life is good. Situation B: by instituting “free trade” and globalization, net income increases to $2,000,000. One guy is now making $1.5 million and the other nine $55,555. The average income is now $200,000. To an economist, “B” is much better. For the people, one is doing great and the other nine have had their incomes cut nearly in half and B sucks.
That’s the fallacy of free trade/globalization. GNP and net incomes go up but more and more people have trouble making a living. I know it makes me sound like some kind of socialist, which I am definitely not. However, it is not good for a peaceful and pleasant social order when there are huge numbers of “have-nots” and a few “haves”. Political instability is a consequence, among other nasty things.
What to do? Beats me. About all I can do personally is to buy American when I can and try to urge others to do the same. That said, I own a fair amount of stock in the emerging economies.