> Why should someone who makes bikes in the EU compete with someone who does it for $0,50 an hour in Vietnam or who knows where? Because this will lead to incr

> Why should someone who makes bikes in the EU compete with someone who does it for $0,50 an hour in Vietnam or who knows where? Because this will lead to increased competition on the low cost countries labor market, increasing their wages. Long term that should equalizes wages and thus standard of living globally and everyone is happy. At least that's the overly simplified and wishful thinking. Reality is obviously a bit more complicated, but I still wouldn't want to entirely discard that concept.