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Nixon also reopened relations with China in 1972. I'm having a hard time finding trade information from the 1970s (a quick search turned up: https://apjjf.org/2
by tcbawo 7y ago
Nixon also reopened relations with China in 1972.
I'm having a hard time finding trade information from the 1970s (a quick search turned up: https://apjjf.org/2013/11/24/Dong-Wang/3958/article.html https://apjjf.org/2013/11/24/Dong-Wang/3958/article.html). You could argue that arbitraging cheap labor overseas has been happening for 40+ years. On the other hand, you could also argue that this has helped make the US richer than otherwise would have been the case.
- dTal 7y agoThat definitely seems like something that would conceivably exacerbate the inequality effects, in the USA at least. But it feels to me to be too gradual a shift to explain the elbows in some of those curves - it's not as if Nixon reopened relations with China, and then companies instantly started outsourcing. Is it?