Mercantilism still doesn't work, but like most bad things in capitalism, the corrections can take so long they may not be worth the pain they cause. The idea i

Mercantilism still doesn't work, but like most bad things in capitalism, the corrections can take so long they may not be worth the pain they cause. The idea is that we take advantage of China's willingness to make stuff for us (west) cheaply while they grow their exports, then when they try to raise prices, we switch away. The risk is the switching costs are expensive.