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Meh. Middle class Chinese means something very different from middle class American. There’s something true here, but the exact comparison you’re making isn’t

Meh. Middle class Chinese means something very different from middle class American. There’s something true here, but the exact comparison you’re making isn’t quite it. Also, valuearb is kind of right. Except that the right solution is more efficient onshore manufacturing, not offshoring.

GeekyBear 6y ago
>Middle class Chinese means something very different from middle class American Of course it does. They do have that extra trillion people to bring the average down. However, moving the manufacturing jobs from here to there has certainly raised their average standard of living while reducing our own.
- valuearb 6y ago
  No it’s raised both our standards of living. Google the law of comparative advantage.
  - GeekyBear 6y ago
    No, it's raised profit margins for manufacturers who no longer have to pay a living wage, healthcare, benefits, and obey stricter environmental and worker safety regulations. The unemployed here are not better off.
    - valuearb 6y ago
      What unemployed? Unemployment was at record low levels before the pandemic.
      - GeekyBear 6y ago
        Ever been to the rust belt? There is plenty of unemployment in our nation's former manufacturing region. In addition, a Walmart cashier, Starbucks barista or Uber driver does not have the same standard of living that a UAW member once did. People are, on average, worse off than the preceding generations, all in the name of higher profit margins for the few. >Across Western Europe and North America, the middle class is shrinking, according to a new report by the OECD. With each new generation, a smaller share of the population find themselves earning middle incomes. When the Baby Boomers, who were born between 1943 and 1964, were in their twenties, some 68% were in middle-income households. Only 60% of Millennials, who were born between 1983 and 2002, could say the same at a similar time in their lives. https://qz.com/1592826/the-middle-class-is-shrinking-generation-by-generation/ https://qz.com/1592826/the-middle-class-is-shrinking-generat...
        valuearb 6y ago
        Unemployment statistics and median incomes prove your anecdotes and cherry picked statistics wrong.

GeekyBear 6y ago

>Middle class Chinese means something very different from middle class American Of course it does. They do have that extra trillion people to bring the average down. However, moving the manufacturing jobs from here to there has certainly raised their average standard of living while reducing our own.

valuearb 6y ago
No it’s raised both our standards of living. Google the law of comparative advantage.
- GeekyBear 6y ago
  No, it's raised profit margins for manufacturers who no longer have to pay a living wage, healthcare, benefits, and obey stricter environmental and worker safety regulations. The unemployed here are not better off.
  - valuearb 6y ago
    What unemployed? Unemployment was at record low levels before the pandemic.
    - GeekyBear 6y ago
      Ever been to the rust belt? There is plenty of unemployment in our nation's former manufacturing region. In addition, a Walmart cashier, Starbucks barista or Uber driver does not have the same standard of living that a UAW member once did. People are, on average, worse off than the preceding generations, all in the name of higher profit margins for the few. >Across Western Europe and North America, the middle class is shrinking, according to a new report by the OECD. With each new generation, a smaller share of the population find themselves earning middle incomes. When the Baby Boomers, who were born between 1943 and 1964, were in their twenties, some 68% were in middle-income households. Only 60% of Millennials, who were born between 1983 and 2002, could say the same at a similar time in their lives. https://qz.com/1592826/the-middle-class-is-shrinking-generation-by-generation/ https://qz.com/1592826/the-middle-class-is-shrinking-generat...
      - valuearb 6y ago
        Unemployment statistics and median incomes prove your anecdotes and cherry picked statistics wrong.