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You’re not addressing the issue. The cheap labor you speak was jobs to millions of Chinese which in the beginning was a very very poor country. Because China wa
by rdlecler1 9y ago
You’re not addressing the issue. The cheap labor you speak was jobs to millions of Chinese which in the beginning was a very very poor country. Because China was so successful selling goods to America they found themselves with huge surpluses of capital. They couldn’t bring it home because it would drive up inflation and make their exports expensive, so instead they bought American bonds which made it easier for America’s to buy Chinese goods. This wasn’t good will on their part. All the while, China limited market access to foreign companies. Where they were invited in, it was only to boot them out later once they either took the technology or decided that they wanted a local player dominating the market.
- scotty79 9y agoAll you said sounds to me that China is just smart about their economy. And US is just happily consuming cheap goods bought with money milked from the world using financial and IP sectors.