Short term thinking is killing America.
Yes many products and services are cheaper because of the ability of business to outsource labor and I do see the advantages in that. I do believe in free trade but both parties should benefit to similar degrees.
Let's take China
Free trade has given them:
The worlds third largest economy, dramatically increased manufacturing capabilities, a well trained work force, and much more political power (think financing U.S. Debt)
Let's take the U.S., we've got cheaper goods (many of which are non-essential non-durable goods like TV, and Microwaves), the ability to run up a huge debt, and stagnant wage growth.
Also note that consumer goods are cheaper, but things like energy, education, and health care are more expensive.
So in the long term, how much is the U.S. benefiting?
Slashdot Mirror
Short term thinking is killing America. Yes many products and services are cheaper because of the ability of business to outsource labor and I do see the advantages in that. I do believe in free trade but both parties should benefit to similar degrees. Let's take China Free trade has given them: The worlds third largest economy, dramatically increased manufacturing capabilities, a well trained work force, and much more political power (think financing U.S. Debt) Let's take the U.S., we've got cheaper goods (many of which are non-essential non-durable goods like TV, and Microwaves), the ability to run up a huge debt, and stagnant wage growth. Also note that consumer goods are cheaper, but things like energy, education, and health care are more expensive. So in the long term, how much is the U.S. benefiting?