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The Chinese are beating us because we let them, to the benefit of consumerism, but at the expense of workers. Yes it let's people buy plastic cooking utencils f
by michaelbuddy 10y ago
The Chinese are beating us because we let them, to the benefit of consumerism, but at the expense of workers. Yes it let's people buy plastic cooking utencils for $2.50 and cheap computer tablets and phones for $70, but it also means unemployment is up, manufacturing is terrible and wages are stagnant since NAFTA was signed.
- soared 10y agoUnemployment is not up: http://data.bls.gov/timeseries/LNS14000000 http://data.bls.gov/timeseries/LNS14000000 People continuously spew that unemployment is a problem, when it is pretty much at the optimal level on a national scale. (5% is actually BETTER than 4%). Manufacturing is only terribly if you buy cheap products, increase what you pay and mfg quality will increase too. Yes stagnant wages are bad, I agree.