3 ms·

This is an overly simplistic (to the point of being absolutely incorrect) explanation. There are four parties involved; {consumers, producers} in {country A, co

• sp332 10y ago
  Well of course it only works for the specific people you're "protecting" and kinda screws over everyone else. My point was, if you're only looking at the median OF the richest countries, of course it's going to move down. Maybe a lot. Even as the mean of that country goes up and the real median (of everyone involved) should go up too. And long-term, the cheaper workers overseas should move a bit higher into the middle class, which makes them more expensive and also increases their demand for services and manufacturing. At that point the original workers could get better jobs to fulfill the new demand. But that could take a long time!