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Keyser Soze

On 4/1/20 11:45 AM, wrote:
On Wed, 1 Apr 2020 08:09:02 -0400, "Mr. Luddite"
wrote:

If the USA really clamps down on its reliance on Chinese
manufactured items (as it should) the Chinese economy
could be in for a free-fall. If it does, there's no
turning back. The Chinese Communist government opened
a Pandora's box about 30 years ago when they started
embracing their government controlled version of
capitalism and "free markets". Once a significant
portion of their population start benefiting from
this, there's no way to close the Pandora's box
again.

===

It's important to remember that the western world has become more or
less addicted to buying cheap manufactured goods from China. That is
a major reason why we have enjoyed low inflation for the last 30 years
or so. China has become the low cost producer for just about
everything we consume and it will be extremely difficult to unwind
that without major disruptions to our economy and standard of living.
China has many millions of people willing to work at low wage factory
jobs and we do not.

Corporations here offshored manufacturing to countries paying near-slave
wages and in the process increased their profit margins by hundreds of
percentage points on many items. American workers want decent wages and
benefits, and these are disappearing. You aren't going to see serious
levels of manufacturing that went offshore coming back here and, of
course, for the most part, we don't have the technology anymore to do
most of the work.