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>The middle class (and lower class) has suffered tremendously from the lower cost of labor abroad and the ability to cheaply import goods and services. The mid
by logicchains 7y ago
>The middle class (and lower class) has suffered tremendously from the lower cost of labor abroad and the ability to cheaply import goods and services.
The middle class in China and India (which barely existed a few decades ago) has profited tremendously from this. It's a natural equalisation: why does a worker in America deserve a better standard of living than a worker in Indian or China when the latter is willing to work so much harder to pull his family out of abject, mud-hut poverty?
- romaaeterna 7y agoThere are other groups that I would bankrupt first to help the third world than the American middle class, if that's what it takes.
- sand_castles 7y agoExcuse me. This idea that Chinese and Indians would be living in mud hut level poverty without blessing from the American capitalist class is an feel good manufactured narrative. India has very little integration to global supply chains, they famously followed a consumption lead growth model - "We feed our people before others". China duped the American capitalist class using the carrot of profits. They could have easily bought the technology and know how from Europeans, but couldn't believe their luck when they found out how easy it was to make Washington sell it's industrial base. You are free to reindustrialize at paying 45 dollars / hour to assembly line workers.