3 ms·
This is a good point. Chinese govt is doing a lot of things to keep manufacturing cheap there - from keeping their currency artificially low by buying USD, to u
by product50 9y ago
This is a good point. Chinese govt is doing a lot of things to keep manufacturing cheap there - from keeping their currency artificially low by buying USD, to using those USD to subsidize manufacturing and then to export those products internationally to decimate local manufacturing. It is not as simple as some who have commented below would say.
The fact that the local manufacturing industry has been decimated is no reason to keep it like that. If profit is to be made, industry will come back - that is the beauty of capitalism.