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This isn't necessarily the win that some people think that it is. Do you like your standard of living? For most, you should when compared. That comes from one
by mrangle 3y ago
This isn't necessarily the win that some people think that it is.
Do you like your standard of living? For most, you should when compared. That comes from one type of economy. This is another type, incoming. And there are no guarantees as to what your change in standard will be.
One rhetorical question might be: is your standard of living better or worse than in China, which is replete with factories? Neither does Bangladesh have a factory shortage.
Who owns the factories being built? It will surprise some to know that foreign ownership will be heavy.
One objective trend is foreign pressure to reduce the cost of exported goods, which means foreign buyer downward pressure on wages as exported goods make up larger portions of the economy.
Don't expect wages to be in Federal Reserve Notes. Do expect a continuing rise in corpocracy and feudalism. Do expect large pools of immigrant labor that will serve to minimize wages.
- golemiprague 3y ago[dead]