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Mr. Luddite[_4_]

On 4/1/2020 1:35 PM, wrote:
On Wed, 01 Apr 2020 11:45:20 -0400,
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.

China's form of government and culture makes it easier for them to
tell their people to suck it up and get back to work. I think they
still have a much worse Covid problem than they are willing to admit
but it is also easier for them to isolate the cases and protect the
factories. They also have a lot more control over the news. You don't
have anyone on TV there saying Xi is an incompetent fool or that their
situation is being mishandled. It is easier for the average coolie to
think all that can be done is being done.

There have been reports (true or not?) that leaks by people
within China indicates the real death toll there so far
exceeds 84,000.

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